topic Can u cliam if you pay 42.00 a week in health insrance in Get your taxes done using TurboTax

Can u cliam if you pay 42.00 a week in health insrance

balentincamargo — Sat, 01 Jun 2019 06:46:33 GMT

Yes, you can claim your total annual premiums for the hea...

MargaretL — Sat, 01 Jun 2019 06:46:35 GMT

Yes, you can claim your total annual premiums for the health insurance if you pay for if out of your pocket. It is deducted as your medical expenses:

Federal Taxes
Deductions and Credits
Scroll down to Medical, select Medical Expenses, enter the total amount for all medical insurance premiums

Note: medical expenses must exceed 10% of your Adjusted Gross Income (or 7.5% if you 65 and older) to be deductible; often, they also must be part of your other itemized deductions, such as mortgage interest, real estate tax, state income tax, charitable donation. If you are not itemizing, the medical deduction will not make a difference on your tax return...

If it comes out of your paychecks it might not be deducti...

VolvoGirl — Sat, 01 Jun 2019 06:46:37 GMT

If it comes out of your paychecks it might not be deductible. That usually comes out pre-tax and has already been deducted from your taxable wages on your W2. You would have to ask your employer.