Can I deduct health insurance payments?

posted

Yes, that is entered as Medical Expenses under Deductions & Credits.

Whether this will benefit you depends on whether you take the Standard Deduction or Itemize Deductions.

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Yes, just remember the total of all health insurance payments and medical expenses must exceed 7.5% of your AGI to be deductible. Also the total of all deductions must then exceed the standard deduction for your filing status. eg. single with 1 exemption the standard deduction is $15,700.