My wife enrolled in Medicare in March, 2020 and started paying many premiums. She is not receiving any Social Security benefits yet. She is paying premiums for: Medicare (quarterly), United Health Care (monthly), Part D prescription (monthly), Vision (monthly), and Dental (monthly). Which, of any of these, are deductible? Do I put this in TurboTax under "medical insurance premiums"?
You'll need to sign in or create an account to connect with an expert.
The Medicare and supplemental payments are all qualified deductible expenses. You will enter as medical insurance premiums.
If you itemize your deductions for a taxable year, you may be able to deduct expenses you paid that year for medical and dental care for yourself, your spouse, and your dependents. You may deduct only the amount of your total medical expenses that exceed 7.5% of your adjusted gross income.
Payments for insurance premiums you paid for policies that cover medical care can provide payment for treatment that includes:
Hospitalization, surgical services, X-rays;
Prescription drugs and insulin;
Dental care;
Replacement of lost or damaged contact lenses
The Medicare and supplemental payments are all qualified deductible expenses. You will enter as medical insurance premiums.
If you itemize your deductions for a taxable year, you may be able to deduct expenses you paid that year for medical and dental care for yourself, your spouse, and your dependents. You may deduct only the amount of your total medical expenses that exceed 7.5% of your adjusted gross income.
Payments for insurance premiums you paid for policies that cover medical care can provide payment for treatment that includes:
Hospitalization, surgical services, X-rays;
Prescription drugs and insulin;
Dental care;
Replacement of lost or damaged contact lenses
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
piano88boy
New Member
donnelly_sandra
New Member
SCHMEA
Returning Member
koza1
New Member
pennylane
New Member