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New Member
posted Mar 25, 2024 12:36:42 PM

We paid for a Medicare Advantage plan and a Medicare "doughnut hole" plan separately from out of pocket, how is it reported?

Medicare B is automatically taken out from Social Security monthly benefit, we paid for our supplemental plans separately through previous employer. Where do we report that?

0 2 1159
2 Replies
Level 15
Mar 25, 2024 12:44:42 PM

The cost is a medical expense if you itemize. You can only deduct an amount of total medical expenses greater than 7.5 percent of your AGI. 

Expert Alumni
Mar 25, 2024 12:48:43 PM

You will need to itemize these costs on Schedule A (forgoing using the Standard Deduction).  Note: You can deduct the portion of medical expenses that exceeds 7.5% of your adjusted gross income (AGI) for 2023.

 

Note: If your TurboTax navigation looks different from what’s described here, learn more.

  1. With your return open, search for Schedule A and then select the Jump to link in the search results.
  2. Enter your medical expenses, starting with prescriptions, on the following screens.


Or Federal tab > Deductions & Credits L. Medical Expenses, then Edit/Add.