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adjsj
New Member

I have a untaxed lump sum per month to pay for some of my health expense and could only be used for this. Then I have to pay $31 for medicare part B and all of medicare p

I have a untaxed lump sum per month to pay for some of my health expense and could only be used for this. Then I have to pay $31 for medicare part B and all of medicare part A $411 on my own. This of course is taxed. What is subsidized and what  is unsubsidized.
  Does premiums means monthly or for the year.
 Does any of this have any effect on my federal return if I’m not itemizing.
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Accepted Solutions
KrisD
Intuit Alumni

I have a untaxed lump sum per month to pay for some of my health expense and could only be used for this. Then I have to pay $31 for medicare part B and all of medicare p

The medicare payments can be deducted as medical expenses, as well as any other medical expenses you paid in 2016 that were not re-reimbursed.

That would be considered unsubsidized.

You would claim the amount for the entire year.

No, if you are not itemizing, there would be no effect.

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1 Reply
KrisD
Intuit Alumni

I have a untaxed lump sum per month to pay for some of my health expense and could only be used for this. Then I have to pay $31 for medicare part B and all of medicare p

The medicare payments can be deducted as medical expenses, as well as any other medical expenses you paid in 2016 that were not re-reimbursed.

That would be considered unsubsidized.

You would claim the amount for the entire year.

No, if you are not itemizing, there would be no effect.

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