Can I deduct my Medicare Supplement Insurance Plan Premiums under medical expenses?

[padaloca7]

My only income is SSDI and I'm on Medicare A and B, below the age of 65. Have a Medigap supplemental plan, costs 2000,00 a year. Can I deduct Medigap monthly premium from federal taxes?

[rjs]

Yes, you can include your Medigap insurance premiums in medical expenses on your federal tax return. However, only medical expenses in excess of 7.5% of your Adjusted Gross Income (AGI) are deductible. (Enter the full amount that you paid in TurboTax. TurboTax will subtract 7.5% of your AGI.) In addition, medical expenses are an itemized deduction. They will not reduce your tax or increase your refund unless your total itemized deductions are more than your standard deduction.

Also, you cannot claim itemized deductions in TurboTax Free Edition. You would have to upgrade to Deluxe.

[xmasbaby0]

If your only income is the SSDI and you do not have any tax withheld from it, itemizing deductions of any kind will have no effect at all on your tax return.  You will not receive a tax refund if you did not pay any tax.    Deductions have no effect if you have paid no taxes--there is nothing from which to issue a tax refund.