You'll need to sign in or create an account to connect with an expert.
Yes -
According to the WI Department of Revenue -
For taxable years beginning in 2007, the Wisconsin subtraction for the amount paid for medical care insurance is expanded to include individuals who had no employer and who were not self-employed. Such individuals may subtract 33.4% of the cost of their medical care insurance on their Wisconsin income tax returns (Form 1). This percentage will increase to 66.7% for taxable years beginning in 2008 and to 100% thereafter.
This subtraction for medical care insurance will now apply to many retired individuals who pay premiums for Medicare Part B (medical services) and Part D (prescription drug coverage). Premiums paid for Medicare Part B and Part D coverage are payments for medical care insurance and can be used in the computation of the subtraction.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Mary7820
Returning Member
cheltziehentz
New Member
sabrina-i-mercado
New Member
Aspmom11
New Member
Santanakl
Returning Member