MaryK4
Employee Tax Expert

Deductions & credits

The Medicare and supplemental payments are all qualified deductible expenses.  You will enter as medical insurance premiums.  

 

If you itemize your deductions for a taxable year, you may be able to deduct expenses you paid that year for medical and dental care for yourself, your spouse, and your dependents. You may deduct only the amount of your total medical expenses that exceed 7.5% of your adjusted gross income. 

 

Payments for insurance premiums you paid for policies that cover medical care can provide payment for treatment that includes:

  • Hospitalization, surgical services, X-rays;

  • Prescription drugs and insulin;

  • Dental care;

  • Replacement of lost or damaged contact lenses

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