DianeW777
Expert Alumni

Retirement tax questions

It depends. It may be that there is nothing to do. 

 

Medicare part B and D premiums are carried to your medical expenses for itemized deduction.  If you take the standard deduction, then you are not gaining a deduction so no need to include the medicare premiums paid.  If you are itemizing your deductions and are able to take a medical expense deduction on Schedule A, then you would need to make sure the premiums are included when entering your medical expenses.

  • That being said, if your employer includes this amount in your W-2 or Form 1099-R as part of your taxable wages or income you are allowed to use the deduction because you are paying tax on the income received for the reimbursement.

Some states allow a deduction for health insurance premiums paid as well.  Check your state to see if you can use your medical expenses or health insurance.

 

@arbalee 

[Edited: 04/01/2022 | 1:38p PST]  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"