https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-retired-and-paying-medicare-for-myself-and-cobra-for-wife-is-anything-deductible/01/1973214#M186187 <P>You can deduct your health insurance premiums if you pay them out of pocket if you itemize your deductions for a taxable year.&nbsp;You may deduct only the amount of your total medical expenses that exceed 7.5% of your adjusted gross income.</P> Tue, 23 Feb 2021 01:41:14 GMT MaryK4 2021-02-23T01:41:14Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/retired-and-paying-medicare-for-myself-and-cobra-for-wife-is-anything-deductible/01/1973128#M186177 <P>I retired in 2020 and started my Medicare payments as well as my wife's health insurance thru COBRA. What is deductible for health insurance in 2020 tax return?</P> Tue, 23 Feb 2021 01:28:45 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/retired-and-paying-medicare-for-myself-and-cobra-for-wife-is-anything-deductible/01/1973128#M186177 manoj9532 2021-02-23T01:28:45Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-retired-and-paying-medicare-for-myself-and-cobra-for-wife-is-anything-deductible/01/1973187#M186182 <P>Were the Medicare premiums deducted from your Soc Sec benefits?&nbsp; If so, they will be recorded when you enter the SSA-1099.&nbsp; If not (and for the COBRA payments), enter them in Federal &gt; Deductions and Credits &gt; Medical.</P> Tue, 23 Feb 2021 01:38:11 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-retired-and-paying-medicare-for-myself-and-cobra-for-wife-is-anything-deductible/01/1973187#M186182 SweetieJean 2021-02-23T01:38:11Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-retired-and-paying-medicare-for-myself-and-cobra-for-wife-is-anything-deductible/01/1973214#M186187 <P>You can deduct your health insurance premiums if you pay them out of pocket if you itemize your deductions for a taxable year.&nbsp;You may deduct only the amount of your total medical expenses that exceed 7.5% of your adjusted gross income.</P> Tue, 23 Feb 2021 01:41:14 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-retired-and-paying-medicare-for-myself-and-cobra-for-wife-is-anything-deductible/01/1973214#M186187 MaryK4 2021-02-23T01:41:14Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-retired-and-paying-medicare-for-myself-and-cobra-for-wife-is-anything-deductible/01/1973561#M186216 <P>No, paid out of my pocket, post-tax. Not taking SS benefits yet.</P> Tue, 23 Feb 2021 02:31:17 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-retired-and-paying-medicare-for-myself-and-cobra-for-wife-is-anything-deductible/01/1973561#M186216 manoj9532 2021-02-23T02:31:17Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-retired-and-paying-medicare-for-myself-and-cobra-for-wife-is-anything-deductible/01/1973610#M186219 <P>Thank you so much both of you for your quick reply. This is what I was expecting but wanted to confirm.&nbsp;</P> Tue, 23 Feb 2021 02:39:09 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-retired-and-paying-medicare-for-myself-and-cobra-for-wife-is-anything-deductible/01/1973610#M186219 manoj9532 2021-02-23T02:39:09Z