tmccoy
New Member

Can I deduct what I pay per paycheck for company health insurance?

 

Deductions & credits

If that is deducted from your paycheck with pre-tax money, as it would be under a Sect. 125 or Cafeteria benefits plan, you can not deduct it. It has already not been taxed. You can deduct premiums only if they are paid with after-tax money. If you are not sure what kind of plan your company has, ask your HR or payroll dept.

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ThomasM
New Member

Deductions & credits

If those amounts are coming out of your pay "pre-tax" -- as payroll deferrals, which are quite common -- then no, you can't deduct them since you're already getting a tax break on the front end.

If these are coming out of your pay as "after tax" earnings, and you're not reimbursed for them, then you could claim an itemized deduction on Schedule A as a medical expense.  If that's the case, you'll enter them by following this pathway: Federal Taxes (or Personal in TurboTax Self Employed) > Deductions & Credits > Medical > Medical Expenses and follow the prompts.