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posted Jun 6, 2019 1:23:49 AM

Sngle, $37000 in gross wgs. No health insurance offered thru emplyr .paid $3704 in COBRA insurance. elig for the tax credit or ONLY able to claim under the med?

single, $37000 wages.  No ins thru employer.  Opted for COBRA thru prev employer. Are premiums elig for tax credit or only elig as a deduction under medical expenses?

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1 Best answer
Intuit Alumni
Jun 6, 2019 1:23:50 AM

No, COBRA premiums are not eligible for a tax credit. The only insurance that qualifies for the Premium Tax Credit is Marketplace insurance. You can deduct your medical premiums on Schedule A as an Itemized Deduction.

Medical, dental, and vision expenses are reported on Schedule A and entered in the Deductions & Credits section:

  1. Open your tax return.
    (To do this, sign in to TurboTax and click the
    Take me to my return button.)
  2. Search for Schedule A and then click the "Jump to" link in the search results.
  3. Answer Yes on the Did you have any medical expenses in 2018? screen.
  4. You will then be prompted to enter your medical expenses, starting with prescriptions.

If you're using Federal Free Edition or Basic and your medical expenses are large enough that you would benefit from itemizing deductions, you'll be prompted to upgrade to Deluxe, as the Federal Free and Basic versions do not handle Schedule A.


1 Replies
Intuit Alumni
Jun 6, 2019 1:23:50 AM

No, COBRA premiums are not eligible for a tax credit. The only insurance that qualifies for the Premium Tax Credit is Marketplace insurance. You can deduct your medical premiums on Schedule A as an Itemized Deduction.

Medical, dental, and vision expenses are reported on Schedule A and entered in the Deductions & Credits section:

  1. Open your tax return.
    (To do this, sign in to TurboTax and click the
    Take me to my return button.)
  2. Search for Schedule A and then click the "Jump to" link in the search results.
  3. Answer Yes on the Did you have any medical expenses in 2018? screen.
  4. You will then be prompted to enter your medical expenses, starting with prescriptions.

If you're using Federal Free Edition or Basic and your medical expenses are large enough that you would benefit from itemizing deductions, you'll be prompted to upgrade to Deluxe, as the Federal Free and Basic versions do not handle Schedule A.