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Medical deduction Can I deduct my monthly insurance preminums? They are taken out of my monthly pension check and used as a deduction there.

 
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3 Replies

Medical deduction Can I deduct my monthly insurance preminums? They are taken out of my monthly pension check and used as a deduction there.

No, not if they are taken pre-tax from your monthly pension.  Pre-tax means they aren't included in Box 2a of your Form 1099-R.

Medical deduction Can I deduct my monthly insurance preminums? They are taken out of my monthly pension check and used as a deduction there.

For clarification.  Lets assume my net monthly check is $500 which includes $100 deducted for insurance. My 1099-R shows taxable income(line 2a) of $600.  Is the $100 a sch A item or do I adjust line 2A on the 1099R to reflect $500 as gross income on my 1040?

MaryK4
Expert Alumni

Medical deduction Can I deduct my monthly insurance preminums? They are taken out of my monthly pension check and used as a deduction there.

If the 2a amount is $600 you can deduct the health insurance on Schedule A.  You do not want to change the 2a amount. @golfermike1966

 

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