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jholden12
New Member

Can I deduct Medicare premiums on Schedule C?

My wife and I receive Medicare parts A and B (primary) and have retiree health plans which must be secondary. I am self-employed and would like to deduct Medicare premiums on schedule C. An accountant friend says that we can since our retiree health plans are secondary and IRS does not consider them to be subsidized employer health plans.

7 Replies
Marketstar
Level 7

Can I deduct Medicare premiums on Schedule C?

Yes, you can, see below for more information:

https://ttlc.intuit.com/replies/5460150

Marketstar
Level 7

Can I deduct Medicare premiums on Schedule C?

Click "See entire answer....
jholden12
New Member

Can I deduct Medicare premiums on Schedule C?

Thanks. Does this mean that my secondary health plan is not considered a subsidized employer health plan because it is secondary?
Marketstar
Level 7

Can I deduct Medicare premiums on Schedule C?

As I understand your question, a subsidized employer plan would be group insurance that either you and/ or a spouse is eligible to participate in-which would not qualify one to deduct as a Schedule C expense. If you are referring to Medicare Supplement insurance, you can deduct it as a Schedule C expense.
jholden12
New Member

Can I deduct Medicare premiums on Schedule C?

That answers my question. I was hoping that because the group plan was secondary (not medigap) and not primary, it would not keep me from deducting Medicare premiums only on schedule C. Thanks for quick response.
Marketstar
Level 7

Can I deduct Medicare premiums on Schedule C?

Your welcome, and thanks for choosing TurboTax.
db_sedwxtfzc
Returning Member

Can I deduct Medicare premiums on Schedule C?

Intuit makes it difficult to get access to this link: https://ttlc.intuit.com/replies/5460150

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