turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

No longer working, on long term disability. Can I deduct my monthly premiums for COBRA?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
LeeM
New Member

No longer working, on long term disability. Can I deduct my monthly premiums for COBRA?

Yes, if you are paying the COBRA premiums with out of pocket funds, you can deduct the premiums paid as an eligible medical expense on Schedule A as an itemized deduction.?

You can only deduct your total medical expenses that greater then 10% of your Adjusted Gross Income?can be deducted if you are under the age of 65 (7.5% if you are 65 or older).? 

Your total itemized deductions must be greater then?the standard deduction for?your filing status?to have any tax benefit. 

To enter your COBRA premiums, you should enter it as a personal medical expense (on the Enter Insurance Premiums screen which is near the end of the medical expenses interview) by following the directions in the TurboTax FAQ below:

https://ttlc.intuit.com/replies/4774888

View solution in original post

1 Reply
LeeM
New Member

No longer working, on long term disability. Can I deduct my monthly premiums for COBRA?

Yes, if you are paying the COBRA premiums with out of pocket funds, you can deduct the premiums paid as an eligible medical expense on Schedule A as an itemized deduction.?

You can only deduct your total medical expenses that greater then 10% of your Adjusted Gross Income?can be deducted if you are under the age of 65 (7.5% if you are 65 or older).? 

Your total itemized deductions must be greater then?the standard deduction for?your filing status?to have any tax benefit. 

To enter your COBRA premiums, you should enter it as a personal medical expense (on the Enter Insurance Premiums screen which is near the end of the medical expenses interview) by following the directions in the TurboTax FAQ below:

https://ttlc.intuit.com/replies/4774888

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies