https://ttlc.intuit.com/community/tax-credits-deductions/discussion/can-the-amount-of-medicare-premiums-deducted-from-my-monthly-benefits-be-taken-as-an-over-the-line/01/2172151#M203219 Mon, 05 Apr 2021 17:51:54 GMT nouna 2021-04-05T17:51:54Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/can-the-amount-of-medicare-premiums-deducted-from-my-monthly-benefits-be-taken-as-an-over-the-line/01/2172151#M203219 Mon, 05 Apr 2021 17:51:54 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/can-the-amount-of-medicare-premiums-deducted-from-my-monthly-benefits-be-taken-as-an-over-the-line/01/2172151#M203219 nouna 2021-04-05T17:51:54Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-can-the-amount-of-medicare-premiums-deducted-from-my-monthly-benefits-be-taken-as-an-over-the/01/2172525#M203267 <P>Yes, you can&nbsp;use medicare premiums paid from your social security benefits as self-employed health insurance premiums.&nbsp;&nbsp;<SPAN style="font-size:11.0pt"><SPAN style="font-family:&quot;Calibri&quot;,sans-serif">Medicare premiums you voluntarily pay to obtain insurance in your name that is similar to qualifying private health insurance can be used to figure the deduction. </SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:&quot;Calibri&quot;,sans-serif">Medicare premiums you voluntarily pay to obtain insurance in your name that is similar to qualifying private health insurance can be used to figure the deduction. </SPAN></SPAN></P> <P>&nbsp;</P> <P>For additional information, please refer to the following link:</P> <P><A href="https://ttlc.intuit.com/community/self-employed/help/can-i-deduct-my-medicare-premiums-as-self-employed-health-insurance-deduction/00/26901" target="_blank">Can medicare premiums be used as self-employed health</A>&nbsp;</P> Mon, 05 Apr 2021 19:08:11 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-can-the-amount-of-medicare-premiums-deducted-from-my-monthly-benefits-be-taken-as-an-over-the/01/2172525#M203267 gloriah5200 2021-04-05T19:08:11Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-can-the-amount-of-medicare-premiums-deducted-from-my-monthly-benefits-be-taken-as-an-over-the/01/2172803#M203307 <P>Your self-employed health insurance deduction cannot exceed the amount of the reimbursement from the S corp for healthcare, reported as wages box 1 of your W-2 from the S corp.&nbsp; The deduction goes on Schedule 1 line 16, which TurboTax will do automatically when you enter the Schedule K-1 (Form 1120S) from the S corp and indicate that you personally paid for healthcare and the S corp paid you wages.</P> Mon, 05 Apr 2021 20:09:53 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-can-the-amount-of-medicare-premiums-deducted-from-my-monthly-benefits-be-taken-as-an-over-the/01/2172803#M203307 dmertz 2021-04-05T20:09:53Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-can-the-amount-of-medicare-premiums-deducted-from-my-monthly-benefits-be-taken-as-an-over-the/01/2172807#M203308 <P>Thank you for your response. I do have an additional question to ask ....is a &gt; 2% shareholder/employee of an Scorp considered self-employed? This question came up when I read the link you referenced to me. I appreciate your time and consideration.</P> Mon, 05 Apr 2021 20:07:49 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-can-the-amount-of-medicare-premiums-deducted-from-my-monthly-benefits-be-taken-as-an-over-the/01/2172807#M203308 nouna 2021-04-05T20:07:49Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-can-the-amount-of-medicare-premiums-deducted-from-my-monthly-benefits-be-taken-as-an-over-the/01/2172827#M203312 <P>You are considered to be self-employed only for the purpose of the self-employed health insurance deduction, not for any other purpose.</P><P>&nbsp;</P><P>I've also add a bit to my previous reply.</P> Mon, 05 Apr 2021 20:11:52 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-can-the-amount-of-medicare-premiums-deducted-from-my-monthly-benefits-be-taken-as-an-over-the/01/2172827#M203312 dmertz 2021-04-05T20:11:52Z