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lfleece15
New Member

if I used standard deduction, do I still deduct medicare premiums from 1099 and long term care premiums for myself?

 
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2 Replies

if I used standard deduction, do I still deduct medicare premiums from 1099 and long term care premiums for myself?

 If you are using your standard deduction your refund or tax due will not be affected by entering itemized deductions to Schedule A.   Itemized deductions like medical expense have no effect unless you have enough itemized deductions to exceed your standard deduction.

**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.**
JohnB5677
Expert Alumni

if I used standard deduction, do I still deduct medicare premiums from 1099 and long term care premiums for myself?

On a personal tax return, if the Standard Deduction is used, there may be no benefit to deducting Medicare premiums, and long-term care premiums as itemized deductions. 

 

There will be no problem if you do post them.  TurboTax will calculate the difference and determine if the Itemized or the Standard Deduction is right for you.

 

Additionally, medical expenses are only deductible if you itemize on Schedule A and they exceed 7.5% of your Adjusted Gross Income (AGI).

 

Different rules may apply if you are self-employed.

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