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Only have 1095-B How and where do I deduct HC Premiums?

Does this mean that amounts reported on 1095-B for health Insurance Premium cannot be deducted on your tax return? 

Since we continued a COBRA coverage, we did not use the marketplace, we paid high premiums due to family member being a Cancer survivor - How do I get the deduction? 

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3 Replies

Only have 1095-B How and where do I deduct HC Premiums?

That can be a medical deduction on Schedule A.

Enter Medical under

Federal on left

Deductions and Credits

Then scroll way down to Medical

Then Medical Expenses - click Start or Update

 

But 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.

 

 

 

 

Only have 1095-B How and where do I deduct HC Premiums?

@I have a 1098T where do I enter  - is that family member a dependent on your taxes? if no, that creates another complication.  

Only have 1095-B How and where do I deduct HC Premiums?

@I have a 1098T where do I enter  

 

Just wondering about your username-----do you also have a question about a 1098T?    Or is that just an odd/random username that you used to post your question about the 1095B?

**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.**
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