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jgphoenixdbc
New Member

How do I deduct my COBRA health insurance payments if I have not met my minimum amount required to qualify for a deduction in medical expenses ?

These COBRA payments were made with "after-tax" funds, so they should be deductible.
3 Replies
WillK
Level 9

How do I deduct my COBRA health insurance payments if I have not met my minimum amount required to qualify for a deduction in medical expenses ?

Are you self-employed?
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jgphoenixdbc
New Member

How do I deduct my COBRA health insurance payments if I have not met my minimum amount required to qualify for a deduction in medical expenses ?

Not self employed, but premiums have always been deducted "pre tax" while cobra payments have been paid with after tax funds, so a deduction should be allowed presumably.
xmasbaby0
Level 15

How do I deduct my COBRA health insurance payments if I have not met my minimum amount required to qualify for a deduction in medical expenses ?

Your COBRA payments can be entered as medical expenses, but they are still subject to the requirement that your medical expenses have to meet the threshold to be deductible.

The medical expense deduction has to meet a rather large threshold before it can affect your return. The amount of medical expenses that will count toward itemization for someone under 65 is the amount that is OVER 10% of your adjusted gross income; for someone 65 or older it would be the amount over 7.5% of your AGI.  

You should only enter the amount that you paid in 2016—do not include any amounts that were covered by insurance or that are still outstanding.  Of course, your medical expenses plus your other itemized deductions still have to exceed your standard deduction before you will see a difference in your tax due or refund.

To enter your medical expenses go to Federal>Deductions and Credits>Medical>Medical Expenses

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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