I am 58 years old and retired. I pay 100% of my medical insurance out of pocket. Can I deduct any of this cost?

24101_08126 — Thu, 06 Jun 2019 10:36:50 GMT

If you paid after-tax medical insurance premium out of po...

LinaJ2018 — Sun, 22 Mar 2020 21:19:38 GMT

If you paid after-tax medical insurance premium out of pocket, you are entitled to claim an itemized deduction on a Schedule A. However, You are ONLY allowed to deduct medical expenses above and beyond 7.5% of your Adjusted Gross Income AGI. Also, you need to itemize to benefit from the medical expense deduction. Until the sum of all your itemizable deductions exceeds your standard deduction amount, your refund won't change.

topic I am 58 years old and retired. I pay 100% of my medical insurance out of pocket. Can I deduct any of this cost? in Retirement tax questions

I am 58 years old and retired. I pay 100% of my medical insurance out of pocket. Can I deduct any of this cost?

If you paid after-tax medical insurance premium out of po...