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menscoe
New Member

I'm confused. I've that I can claim out-of-pocket medical premiums paid for Marketplace insurance and I've read I cannot claim them. Which is it?

 
2 Replies
Bsch4477
Level 15

I'm confused. I've that I can claim out-of-pocket medical premiums paid for Marketplace insurance and I've read I cannot claim them. Which is it?

You can deduct the out of pocket payment of medical premiums but only if you itemize and you can only deduct the amount greater than 7.5% of your AGI.  Your total itemized deductions have to be more than your standard deduction to benefit you. 

menscoe
New Member

I'm confused. I've that I can claim out-of-pocket medical premiums paid for Marketplace insurance and I've read I cannot claim them. Which is it?

Great, thank you, that clears things up!

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