topic Is Medicare part d deductible if paid on own? Not deducted on form ssa-1099 in Retirement tax questions

Is Medicare part d deductible if paid on own? Not deducted on form ssa-1099

jozeppie4477 — Thu, 19 Mar 2020 17:15:35 GMT

Re: Is Medicare part d deductible if paid on own? Not deducted on form ssa-1099

xmasbaby0 — Thu, 19 Mar 2020 17:27:15 GMT

Yes you can add that to the medical expenses if it was not on your SSA1099.

MEDICAL EXPENSES

The medical expense deduction has to meet a rather large threshold before it can affect your return. The amount of medical (including dental, vision, etc.) expenses that will count toward itemization is the amount that is OVER 7.5% of your adjusted gross income. You should only enter the amount that you paid in 2019—do not include any amounts that were covered by insurance or that are still outstanding. Of course, your medical expenses plus your other itemized deductions still have to exceed your standard deduction before you will see a difference in your tax due or refund.

To enter your medical expenses go to Federal>Deductions and Credits>Medical>Medical Expenses

Re: Is Medicare part d deductible if paid on own? Not deducted on form ssa-1099

jozeppie4477 — Thu, 19 Mar 2020 17:46:02 GMT

I am doing short form . Not doing medical expenses.paid part d on my own . It is not listed as a deduction on form ss-1099. Can I add it where it says part d? If the form is blank?

Re: Is Medicare part d deductible if paid on own? Not deducted on form ssa-1099

xmasbaby0 — Thu, 19 Mar 2020 17:53:32 GMT

What year are you preparing a return for? There is no such thing as a "short form" for any tax year after 2017. There are no more 1040EZ or 1040A forms. Everyone who is filing a 2019 return is using a Form 1040. Do you expect to have enough medical expenses to exceed 7.5% of your AGI? If not, they will have no effect, and if you do not have enough other itemized deductions like mortgage interest, property taxes, etc., then entering your Part D amount will not affect your tax return at all.