Are premiums for medicare supplement part G insurance deductible

[abbey-sam]

no option given for medicare supplemental insurance, which is not marketplace or any of the other options offered.

[HelenaC · Accepted solution]

Yes,  as are premiums for the other Medicare programs – Part B (supplemental medical insurance), Part C (Medicare Advantage), and Part D (voluntary prescription drug insurance).

Medical, dental, and vision expenses are reported on Schedule A and entered in the Deductions & Credits section:

1. Open your tax return.
   (To do this, sign in to TurboTax and click the orange Take me to my return button.)
2. Search for Schedule A and then click the "Jump to" link in the search results.
3. Answer Yes on the Did you have any medical expenses in 2016? screen.
4. You will then be prompted to enter your medical expenses, starting with prescriptions.

If you're using Federal Free Edition or Basic and your medical expenses are large enough that you would benefit from itemizing deductions, you'll be prompted to upgrade to Deluxe, as the Federal Free and Basic versions do not handle Schedule A.

[Theshoe]

old answer.... update please

[DoninGA]

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@Theshoe wrote:

old answer.... update please

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Health care insurance premiums, including dental and vision insurance premiums, and other medical expenses that you paid with out of pocket funds and were not reimbursed 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 2022

Single - $12,950 add $1,750 if age 65 or older
Married Filing Separately - $12,950 add $1,400 if age 65 or older
Married Filing Jointly - $25,900 add $1,400 for each spouse age 65 or older
Head of Household - $19,400 add $1,750 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 in the Search box located in the upper right of the program screen. Click on Jump to medical expenses