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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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:
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.
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:
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.
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