I am employed, but pay all of the healthcare premiums myself in the open marketplace. I receive no benefits from employer. Can I deduct the premiums?
You'll need to sign in or create an account to connect with an expert.
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 2019
To enter your medical expenses -
Or enter medical expenses, sch a in the Search box located in the upper right of the program screen. Click on Jump to medical expenses, sch a
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 2019
To enter your medical expenses -
Or enter medical expenses, sch a in the Search box located in the upper right of the program screen. Click on Jump to medical expenses, sch a
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
DanTheDapperMan
Level 1
pixiedust-123
New Member
mahoneyseven
Level 1
kmm24
Level 1
tch5yrolds
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.