If you have Part C premiums paid from the SSA-1099 benefits shown in box 3 of the SSA-1099 and enter those premiums in the SSA-1099 section of the program then they will automatically included as a medical expense to be reported as an itemized deduction on Schedule A.
However, if you paid the Part C premiums with out of pocket funds and they were not reimbursed then you enter the premiums in the Medical Expense section of the program.
Health care insurance premiums and other medical expenses that you paid with out of pocket funds are an eligible medical expense that you can deduct using Schedule A for itemized deductions. However, only your total medical expenses that are greater than 7.5% of your Adjusted Gross Income (AGI) can be deducted. Your total itemized deductions reported on Form 1040 Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.
Standard deductions for 2021
- Single - $12,550 add $1,700 if age 65 or older
- Married Filing Separately - $12,550 add $1,350 if age 65 or older
- Married Filing Jointly - $25,100 add $1,350 for each spouse age 65 or older
- Head of Household - $18,800 add $1,700 if age 65 or older
To enter your medical expenses -
- Click on Federal Taxes (Personal using Home and Business)
- Click on Deductions and Credits
- Click on I'll choose what I work on (if shown)
- Scroll down to Medical
- On Medical Expenses, click the start or update button
Or enter medical expenses in the Search box located in the upper right of the program screen. Click on Jump to medical expenses
