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sic0286
New Member

I paid for supplemental insurance (AFLAC) this year $140/month. Is that deductible?

 
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1 Reply
AndreaG
New Member

I paid for supplemental insurance (AFLAC) this year $140/month. Is that deductible?

It depends. Certain types of  health insurance premiums can be taken as an itemized deduction as long as the premiums are unreimbursed and you meet the requirements to itemize your deductions.

Please refer to pages 8-11 of pub 502 to determine if your insurance premiums meet the requirements. Relevant headings include: "insurance premiums", "employer sponsored health insurance plan", "insurance premiums you can't include", and "long term care". https://www.irs.gov/pub/irs-pdf/p502.pdf

To itemize your deductions, you would have to have personal expenses such as medical and dental expenses, mortgage interest, real estate taxes, unreimbursed job expenses and certain miscellaneous expenses, and charitable contributions that when combined together, total more than your standard deduction. For example if you file single, your standard deduction is $6300 so you would have to have personal expenses that total more than $6300.

You can only claim a deduction for the medical and dental expenses that you paid in 2016 that are in excess of 10% of your adjusted gross income OR in excess of 7.5% of your adjusted gross income if you were at least 65 years old as of the end of 2016. 

Please refer to the following FAQs for instructions on how to enter these expenses in to Turbo Taxhttps://ttlc.intuit.com/replies/4774888 

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