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Suplemental medical insurance
February 5, 2020
11:10 AM
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Deductions & credits
Premiums you paid out of pocket for supplemental medical insurance are deductible.
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February 5, 2020
11:29 AM
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Deductions & credits
Follow the steps below to deduct out of pocket Supplemental Medical Insurance :
- Log in to your account.
- Go to Federal Taxes.
- Go to Deductions and Credits.
- Scroll down to Medical and click show more.
- Scroll down to Medical Expenses and click revisit.
- Continue until you get to the screen "How much did you spend on insurance premiums.
To deduct the medical expenses you must itemize your deductions and the total medical expenses must exceed 7.5% of your AGI. To itemize, the total of your itemize deductions must exceed your standard deduction. Medical expenses are reported on Schedule A line 1 and it will carry over to form 1040 line 9.
Edited [03/01/2020(07:21 PST)]
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February 27, 2020
10:31 AM
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