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Level 1
June 1, 2019
Solved

Deducting health insurance premiums.

  • June 1, 2019
  • 1 reply
  • 23 views
I pay my insurance premiums each month. They are not deducted from a paycheck. Is my Tricare deductible?
Best answer by PaulaM

Yes, if your premiums are paid for with after-tax dollars, then you may deduct as a medical expense on Schedule A. 

The total medical expenses will need to exceed 7.5 % of your AGI to receive a benefit. You can always enter your medical expenses and TurboTax will determine if you meet the thresholds. 

If the premiums are paid with pre-tax dollars, then no, they are not deductible.

[edited 1/27/18| 6:39 am PST]

See FAQ below.

https://ttlc.intuit.com/questions/2895189-what-kinds-of-medical-expenses-are-deductible

1 reply

PaulaMAlumni - ExpertAnswer
Alumni - Expert
June 1, 2019

Yes, if your premiums are paid for with after-tax dollars, then you may deduct as a medical expense on Schedule A. 

The total medical expenses will need to exceed 7.5 % of your AGI to receive a benefit. You can always enter your medical expenses and TurboTax will determine if you meet the thresholds. 

If the premiums are paid with pre-tax dollars, then no, they are not deductible.

[edited 1/27/18| 6:39 am PST]

See FAQ below.

https://ttlc.intuit.com/questions/2895189-what-kinds-of-medical-expenses-are-deductible

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Level 2
June 1, 2019
I insurance on my turbo tax,an my taxes are all mest up after we sent in so how do I collect on this one that was. Not my fault