health insurance premiums

[ksimmers]

I am retired and i pay for my family insurance premium on my own with a check each month to my old employer  is the amount deductible and if so were am i able to deduct it at.  they wrote a letter stating the amount that i have paid to them for the year as a receipt 

[MinhT1]

Yes, you can claim these health insurance payments along with all medical and dental bills and prescription drugs paid out-of-pocket as Medical Expenses in Schedule A - Itemized Deductions

For tax year 2020, Medical Expenses are subject to the 7.5% rule and you can only claim the excess over 7.5% of your Adjusted Gross Income.

Please note that Itemized Deductions will only "help" when they exceed your standard deduction.

For 2020, standard deductions are:

For a taxpayer under 65, not claimed as a dependent

• $12,400 for Single
• $24,800 for Married Filing Jointly, or Qualifying Widow(er) with dependent child
• $18,650 for Head of Household
• $12,400 for Married Filing Separately
• If you are over 65 or blind, add $1,300 for each instance if married or add $1,650 each instance if single or head of household

You can enter Medical expenses by following these steps:

1. In TurboTax, open your tax return
2. Click on Federal in the left-hand column, then on Deductions & Credits on top of the screen
3. Scroll down to All Tax breaks, locate the section Medical and click on Show more
4. Click Start next to Medical Expenses.

[ksimmers]

Could I fill out a 8885 form?

[dmertz]

To use 2020 Form 8885 and qualify for the Health Coverage Tax Credit, all of the following must be true on the first day of at least one of the months of 2020:

• You were an eligible trade adjustment assistance (TAA) recipient, alternative TAA (ATAA) recipient, reemployment TAA (RTAA) recipient, or Pension Benefit Guaranty Corporation (PBGC) payee; or you were a qualifying family member of an individual who fell under one of the categories listed above when he or she passed away or with whom you finalized a divorce.
• You and/or your family member(s) were covered by HCTC-qualified health insurance coverage for which you paid the entire premiums, or your portion of the premiums, directly to your health plan or to “US Treasury-HCTC.”
• You were not enrolled in Medicare Part A, B, or C, or you were enrolled in Medicare but your family member(s) qualified for the HCTC.
• You were not enrolled in Medicaid or the Children’s Health Insurance Program (CHIP).
• You were not enrolled in the Federal Employees Health Benefits Program (FEHBP) or eligible to receive benefits under the U.S. military health system (TRICARE).
• You were not imprisoned under federal, state, or local authority.
• Your or your spouse’s employer (or former employer) did not pay 50% or more of the cost of coverage.

[ksimmers]

would i qualify? i was forced to retire from a high school.  I send them a check each month for 1000 a month the the entire premium of family health insurance. I receive a letter at the end of the year the amount that i have paid stating that it was not money that was tax sheltered   thank you