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Is there some place I can claim the amount I paid for an individual medical insurance policy?

Insurance NOT offered through employer. Premium paid with after tax dollars.
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3 Replies
rjs
Level 15
Level 15

Is there some place I can claim the amount I paid for an individual medical insurance policy?

You can include the insurance premiums that you paid as a medical expense. However, your actual deduction for medical expenses is only the portion of your total unreimbursed medical expenses that is over 7.5% of your Adjusted Gross Income (AGI). (In TurboTax, enter the full amount that you paid. TurboTax will subtract 7.5% of your AGI.) Also, medical expenses are an itemized deduction. They will not make any difference in your tax unless your total itemized deductions are more than your standard deduction.

 

You cannot claim itemized deductions in TurboTax Free Edition. You would have to upgrade to Deluxe.

 

Is there some place I can claim the amount I paid for an individual medical insurance policy?

It did not request premium information for the federal return, but it is asking me for the insurance premiums paid in the Idaho state return. I’m assuming it is ok to enter it here? 

rjs
Level 15
Level 15

Is there some place I can claim the amount I paid for an individual medical insurance policy?


@tamaracrane wrote:

It did not request premium information for the federal return, but it is asking me for the insurance premiums paid in the Idaho state return. I’m assuming it is ok to enter it here? 


You have to enter it in the federal section. I think it's not asking because you are using Free Edition. As I said in my earlier reply above, you have to upgrade to Deluxe to enter any itemized deductions, including medical expenses.

 

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