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kysg1
New Member

We paid 3,077. for Cobra last year. We also paid a total out of pocket medical expense of $3,000. and $800.00 of deductables for Rx. Are these deductalbe expenses?

We also pay approx $300 per mont for F Plan supplement to Medicare.  Is that deductible?

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WillK
Intuit Alumni

We paid 3,077. for Cobra last year. We also paid a total out of pocket medical expense of $3,000. and $800.00 of deductables for Rx. Are these deductalbe expenses?

The medical insurance that you paid for out of pocket, along with the Rx's and other medical expenses can be deducted on your personal tax return. 

Medical expenses are an itemized deduction on Schedule A and are deductible to the extent they exceed 7.5% of your adjusted gross income (AGI). Please click here for more information: https://www.irs.gov/taxtopics/tc502.html

 

[edited 3/20/2020@5;58pm]

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1 Reply
WillK
Intuit Alumni

We paid 3,077. for Cobra last year. We also paid a total out of pocket medical expense of $3,000. and $800.00 of deductables for Rx. Are these deductalbe expenses?

The medical insurance that you paid for out of pocket, along with the Rx's and other medical expenses can be deducted on your personal tax return. 

Medical expenses are an itemized deduction on Schedule A and are deductible to the extent they exceed 7.5% of your adjusted gross income (AGI). Please click here for more information: https://www.irs.gov/taxtopics/tc502.html

 

[edited 3/20/2020@5;58pm]

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**Mark the post that answers your question by clicking on "Mark as Best Answer"
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