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My wife and I retired early 2/1/17. We elected to use COBRA in order to have health insurance until eligible for Medicare. Can we itemize this expense?
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My wife and I retired early 2/1/17. We elected to use COBRA in order to have health insurance until eligible for Medicare. Can we itemize this expense?
Yes, if you paid these COBRA premiums with out-of-pocket money.
These medical deductions appear on Schedule A which is completed on TurboTax in Deductions and Credits, Medical Expenses.
Only your total medical expenses that exceed 10% of your Adjusted Gross Income is deductible is you are under age 65. TurboTax also will determine this for you.
If included the link to the IRS regarding Medical and Dental Expenses:
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My wife and I retired early 2/1/17. We elected to use COBRA in order to have health insurance until eligible for Medicare. Can we itemize this expense?
Yes, if you paid these COBRA premiums with out-of-pocket money.
These medical deductions appear on Schedule A which is completed on TurboTax in Deductions and Credits, Medical Expenses.
Only your total medical expenses that exceed 10% of your Adjusted Gross Income is deductible is you are under age 65. TurboTax also will determine this for you.
If included the link to the IRS regarding Medical and Dental Expenses: