Hello pattersj,
I found some information for you about deducting COBRA premiums. I hope this helps!
If you are paying the COBRA premiums with out of pocket funds, you can deduct the premiums paid as an eligible medical expense on Schedule A as an itemized deduction. Only your total medical expenses greater then 10% of your AGI can be deducted if you are under the age of 65. If you are age 65 or older then the AGI limit is 7.5%. Your total itemized deductions must be greater then your standard deduction to have any tax benefit.
- Go to Federal Taxes.
- Click on the Deductions and Credits tab.
- Click on Explore on My Own.
- Scroll down to Medical.
- On Medical Expenses, click on the start/update button.
- Follow the prompts.
If you need further assistance or have any other questions about your return please feel free to comment on here and I will help you as best as I can. Goodluck! Have a wonderful day!
Thank You for choosing TurboTax,
Rachael
