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d-g-senn
New Member

Can i write off health insurance premiums

 
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ThomasM
New Member

Can i write off health insurance premiums

It depends. As a W-2 employee, you can only claim the portion of your health insurance premiums not paid with pre-tax dollars (from your paycheck) and not paid by a subsidy. This will be taken as an itemized deduction on Schedule A.

In addition, if your health plan has a deductible, and you incurred out-of-pocket medical costs that insurance (or an HSA/MSA/FSA) did not cover or reimburse you for, then you can also claim those medical costs as an itemized deduction.

Keep in mind that an itemized deduction for medical expenses is subject to a 10% of AGI threshold (7.5% if age 65+), which means that your total medical expenses have to exceed 10% of your Adjusted Gross Income before you'll begin to get the deduction.  Also, you'll have to be able to itemize (rather than take the standard deduction).

You'll enter them by following this pathway:  Federal Taxes > Deductions & Credits > Medical > Medical Expenses, and follow the prompts.

If you're self-employed, there's a special Self Employed Health Insurance Deduction (see this link https://www.irs.gov/uac/newsroom/dont-miss-the-health-insurance-deduction-if-youre-self-employed).

If your particular state has some form of medical premium deduction/credit, TurboTax will ask you the appropriate questions in the State interview section.

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