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dti745
New Member

Medicare premiums

My wife is not eligible for Social Security payments, but does pay for Medicare. How do I enter her Medicare payments?

1 Best answer

Accepted Solutions
DoninGA
Level 15

Medicare premiums

Medicare premiums paid are entered in the Medical Expense section of the program as Health Insurance premiums paid.

 

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

  • Single - $12,200 add $1,650 if age 65 or older
  • Married Filing Separately - $12,200 add $1,300 if age 65 or older
  • Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older
  • Head of Household - $18,350 add $1,650 if age 65 or older

To enter your medical expenses -

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Deductions and Credits
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Medical
  • On Medical Expenses, click the start or update button

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

View solution in original post

3 Replies
VolvoGirl
Level 15

Medicare premiums

Like any medical insurance.  If you paid them separately,   just start typing Medical  in the search box at the top of your return and pick "medical expenses, sch a" from the drop down list.  Then click on Jump To  at the top of the list.

 

OR

Enter Medical under

Federal on left

Deductions and Credits

Then scroll way down to Medical

Then Medical Expenses - click Start or Update

 

 But it takes a lot of medical to be able to deduct it.

You can only deduct the amount of unreimbursed Medical Expenses you actually paid over 7.5%of your AGI.  And then all your itemized deductions have to be more than the standard deduction to get any benefit (so you would only be getting the benefit of the amount that puts you over the standard deduction).  And since the Standard Deduction is increased more people will not need to Itemize.

DoninGA
Level 15

Medicare premiums

Medicare premiums paid are entered in the Medical Expense section of the program as Health Insurance premiums paid.

 

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

  • Single - $12,200 add $1,650 if age 65 or older
  • Married Filing Separately - $12,200 add $1,300 if age 65 or older
  • Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older
  • Head of Household - $18,350 add $1,650 if age 65 or older

To enter your medical expenses -

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Deductions and Credits
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Medical
  • On Medical Expenses, click the start or update button

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

View solution in original post

dti745
New Member

Medicare premiums

Thanks for the info

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