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I know I Medicare comes out of my State Teachers Retirement, but where does it show on my 1099?

 
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4 Replies
ToddL99
Expert Alumni

I know I Medicare comes out of my State Teachers Retirement, but where does it show on my 1099?

Medicare premiums are not paid out of your pension income (State Teachers Retirement) and are not reported on your Form  1099-R.

 

Medicare Part A is "free. Premiums for Medicare Part B are either deducted from your Social Security benefits or paid by personal check to the SSA.

 

You may be paying for a "Medicare supplement" made available through your former employer. A "Medicare supplement" is a third-party insurance policy intended to cover expenses not paid by Medicare Parts A & B. Those premiums would be reported in Box 5 of your 1099-R.

 

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I know I Medicare comes out of my State Teachers Retirement, but where does it show on my 1099?

My Medicare Part C is deducted from my Ga TRA Pension however the annual total is not reported anywhere on the 1099-R. Where can I specify the amount?

 

I know I Medicare comes out of my State Teachers Retirement, but where does it show on my 1099?

Are my Medicare Part C deductible for taxes?

If they are, must they be specified on the associated 1099-R to receive this deduction?

 

PattiF
Expert Alumni

I know I Medicare comes out of my State Teachers Retirement, but where does it show on my 1099?

Yes, your Medicare Part C costs are deductible on the Schedule A as an itemized deduction. With the higher standard deduction now in use, most people do not itemize their deductions.

 

The amount does not need to be on the 1099-R to be used as a medical expense for itemized deduction.

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