How do I deduct medicare payments if I am 65 but not receiving social security?

[captjpt]

I am delaying receiving SS to get my ful SS benefits.

[xmasbaby0 · Accepted solution]

If you are itemizing deductions then the out of pocket medicare premiums you paid in 2020 can be entered as medical expenses.  It is very hard to get the medical deduction.

MEDICAL EXPENSES

The medical expense deduction has to meet a rather large threshold before it can affect your return. The amount of medical (including dental, vision, etc.)  expenses that will count toward itemization is the amount that is OVER 7.5% of your adjusted gross income. You should only enter the amount that you paid in 2020—do not include any amounts that were covered by insurance or that are still outstanding.  Of course, your medical expenses plus your other itemized deductions still have to exceed your standard deduction before you will see a difference in your tax due or refund.

To enter your medical expenses go to Federal>Deductions and Credits>Medical>Medical Expense

[MinhT1]

Medicare payments are health insurance payments and can be claimed together with 

all medical and dental bills and prescription drugs paid out-of-pocket as Medical Expenses in Schedule A - Itemized Deductions

For tax year 2020, Medical Expenses are subject to the 7.5% rule and you can only claim the excess over 7.5% of your Adjusted Gross Income.

Please note that Itemized Deductions will only "help" when they exceed your standard deduction.

For 2020, standard deductions are:

For a taxpayer under 65, not claimed as a dependent

• $12,400 for Single
• $24,800 for Married Filing Jointly, or Qualifying Widow(er) with dependent child
• $18,650 for Head of Household
• $12,400 for Married Filing Separately
• If you are over 65 or blind, add $1,300 for each instance if married or add $1,650 each instance if single or head of household

You can enter Medical expenses by following these steps:

1. In TurboTax, open your tax return
2. Click on Federal in the left-hand column, then on Deductions & Credits on top of the screen
3. Scroll down to All Tax breaks, locate the section Medical and click on Show more
4. Click Start next to Medical Expenses.