CesarJ
Employee Tax Expert
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Self employed

Yes, you may still be able to deduct Medicare Part B premiums even if you aren't self-employed.

 

Since you're retired and your Part B premiums are being deducted from your Social Security benefits, those premiums are considered medical expenses. You can include them with your other medical expenses on Schedule A if you itemize deductions.

 

Keep in mind:

 

  • Medical expenses are deductible only to the extent they exceed 7.5% of you adjusted gross income (AGI).
  • If you take the Standard Deduction, you won't receive a separate tax benefit for the premiums.
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