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New Member
posted Jun 7, 2019 4:15:21 PM

Can we deduct medicare part B premiums deducted from our benefits on form SSA-1099 as a medical expense?

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1 Best answer
Alumni
Jun 7, 2019 4:15:23 PM

Yes, assuming you qualify to deduct medical expenses. If you enter your Part B premiums into TurboTax's SSA-1099 screen, that will automatically carry over to the deductions section as a medical expense. (Same with Part C/Medicare Advantage and Part D premiums if they're on your SSA-1099.) However, only medical expenses in excess of 10% of AGI (or 7.5% if over 65) are deductible, and even then it's an itemized deduction (those only count if they exceed your standard deduction).

4 Replies
Alumni
Jun 7, 2019 4:15:23 PM

Yes, assuming you qualify to deduct medical expenses. If you enter your Part B premiums into TurboTax's SSA-1099 screen, that will automatically carry over to the deductions section as a medical expense. (Same with Part C/Medicare Advantage and Part D premiums if they're on your SSA-1099.) However, only medical expenses in excess of 10% of AGI (or 7.5% if over 65) are deductible, and even then it's an itemized deduction (those only count if they exceed your standard deduction).

New Member
Jun 7, 2019 4:15:24 PM

Yes, but Turbo-Tax asks for RX (Part D) premiums in a separate area.  So then what?

Alumni
Jun 7, 2019 4:15:27 PM

Were your Part D premiums on your SSA-1099? If so, did you enter it into TurboTax on the SSA-1099 screen?

Alumni
Jun 7, 2019 4:15:28 PM

Also, not all Medicare premiums (any part) are paid from Social Security; for Medicare Advantage & Part D you usually have to elect it at enrollment, but direct debit & credit or debit card are also common. Even Part B can be paid separately, especially if you're not drawing Social Security at 65.