medicare part b

[afvsiii50]

Are Medicare part B premiums deductible?

[DavidS127]

Yes, Medicare Part B premiums are counted as medical expenses in the calculation of itemized deductions.  Or, if you have self-employment income, you can count them as self-employed heath insurance premiums, which is generally more favorable than counting them as an itemized deduction.

Note that only medical expenses that exceed 7.5% of adjusted gross income (AGI) are counted as itemized deductions.

And, if your total itemized deductions (medical, taxes paid, mortgage interest, charitable contributions) are less than the standard deduction for your filing status, you generally want to choose to use the higher standard deduction.  TurboTax will use the higher of your standard deduction or itemized deductions, unless you choose otherwise.

[Walt6]

I have normally itemized deductions, but have not been including Medicare part 
B premiums with Medicare medical deductions ( because I thought TurboTax was handling this somehow, since I included the info under my Social Security entry). Should I include Medicare part B premiums in the section that includes LTC, Dental insurance and other insurance premiums? 

[DoninGA]

---

@Walt6 wrote:

I have normally itemized deductions, but have not been including Medicare part 
B premiums with Medicare medical deductions ( because I thought TurboTax was handling this somehow, since I included the info under my Social Security entry). Should I include Medicare part B premiums in the section that includes LTC, Dental insurance and other insurance premiums? 

---

If you reported the Medicare premiums in the section for entering your Social Security benefits from the Form SSA-1099, the TurboTax program automatically entered those premiums on Schedule A as an itemized medical expense.

[Walt6]

After reviewing this again, I noted that Turbotax does include Medicare B premiums in the insurance section of Medical deductions.