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I got married in 2021. I work part-time but did not have access to medical coverage through my employer. We found out I was eligible to be added to my retired husband's Steelworkers Health and Welfare Fund insurance plan. We pay a monthly premium for the coverage. Are these premiums tax deductible?
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Health care insurance premiums and other medical expenses that you paid with out of pocket funds are an eligible medical expense that you can deduct using Schedule A for itemized deductions. However, only your total medical expenses that are greater than 7.5% of your Adjusted Gross Income (AGI) can be deducted. Your total itemized deductions reported on Form 1040 Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.
Standard deductions for 2021
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Thank you for answering that question for me. That's kind of what I had thought but figured I'd check first.
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