topic If Medicare Part B was deducted from benefits but why was it added as income on tax form? in Retirement tax questions

If Medicare Part B was deducted from benefits but why was it added as income on tax form?

rltmath — Tue, 14 Jul 2020 16:56:34 GMT

Box 5 has a net benefit for 2019 and Medicare part B has an amount deducted from benefits but these two were added

Re: If Medicare Part B was deducted from benefits but why was it added as income on tax form?

VolvoGirl — Tue, 14 Jul 2020 16:58:42 GMT

Where is it added, what line or box? Medicare Part B will go to Schedule A as an itemized deduction if you don't take the Standard Deduction.

Re: If Medicare Part B was deducted from benefits but why was it added as income on tax form?

VolvoGirl — Tue, 14 Jul 2020 17:02:20 GMT

Social Security shows up on 1040 line 5a and the taxable amount on 5b.
Up to 85% of Social Security becomes taxable when all your other income plus 1/2 your social security, reaches:
Married Filing Jointly: $32,000
Single or head of household: $25,000
Married Filing Separately: 0