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tacxsman
New Member

Can Medical Expenses carry forward for multiple years?

I retired 12 years ago as a general partner for a medical organization.  The organization still pays for my medical premiums and for my retirement income.   I pay imputed income tax for the money the company pays for my medical premiums.   I also pay taxes on the retirement income since it is considered to be payment for work done in years past.   Turbo Tax puts both the imputed income and retirement income as if I was self-employed.   This year Turbo Tax put about 8 or 9 years of the medical insurance payments (that are listed on my K-1 form as a deduction for medical expense box 13) on to form 6198 as Profit Loss due to medical expense. The total amount for all the years added together was in excess of $111,000.   

From what I read you cannot carry medical expenses forward unless you are a small business and then you can carry the expenses forward for 20 years.    I do not feel I am a small business except that I am not employed so I fall in the category of self-employed because there is no other way to categorize my income.  Is Turbo Tax correct in having me claim 8-9 years of deductions for medical premiums paid by my previous organization because I paid imputed income tax on it and I'm considered self-employed? 

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2 Replies

Can Medical Expenses carry forward for multiple years?

if box 13 of your k-1 13M reads $111,000, that's what you syupposed to enter in TurboTax. what you need to do is go back to the company and get explanations. 

 

income subject to SE tax is reported in box 14 usually 14A. 

 

the K-1 is supposed to reflect what needs to be reported on your 1040 for the current year 

tacxsman
New Member

Can Medical Expenses carry forward for multiple years?

Thanks for your quick response.  

Box 13 shows about $7,000 for 2025.  It is about 8-9 years of box 13's that add up to over $111,000.  Turbo tax says I should deduct $111,000 for medical expenses not just the $7,000 for this year.       

Box 14 = A $0.    Box 4a and 4c are the only other boxes with amounts in them.   

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