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Education
Q. Premiums can only be deducted if they plus medical expenses exceed 7.5% of your AGI?
A. Yes and then only if your itemized deductions total more than your standard deduction.
Q. 1) Has anything changed that make healthcare premiums qualified (note my university does not require us to buy their insurance)
A. No, It's still taxable.
Q. If they are non-qualified, can I report the cost of the premiums when I itemize my deductions (my wife and I file jointly and we do itemize).
A. Yes.
March 2, 2021
4:37 AM
670 Views