debbieandwayne
Returning Member

Deductions & credits

This is what I am looking at. 

 

Q. I am self-employed and my husband is on Medicare. I deduct my health insurance premiums on my income tax. I recently heard that I also can deduct his Medicare Part A, Part B, Part C and Part D premiums. Is this really true?

A. Yes. In 2012, the IRS ruled that Medicare insurance premiums can be counted. Under the ruling, Medicare premiums covering the self-employed individual – as well as his or her spouse, dependents, and under-age-27 children – are deductible.