Social Security deducts a certain amount from my husband's check each month for Medicare Part B. However, I don't know where to enter this amount, or if it is somehow automatically calculated... it does not appear in the total amount of medical expenses under insurance. What am I missing here?
Thank you in advance for your response.
Did you enter it when you entered the SSA-1099? It automatically goes to Medical. Or if he has self employment income his medicare can go under Business.
Medicare plan B payments are qualified as Self-employed medical insurance premiums and should be entered under Business instead of in the SSA-1099 Social Security Benefits section.
Go back and delete it from the SSA-1099 entry screen. Try going to the search box by My Account and type in Social Security Benefits. That will give you a Jump To link to take you directly to it.
THEN to enter it under Business,
Choose Jump to Full List -or I'll choose what I work on
Business Income and Expenses - Click the Start or Update button
Then click EDIT by the business name and the next screen should be a list of topics,
Business Profile, Income, Inventory/Cost of Goods Sold, Expenses, Assets, and Final Details last.
Under Business Expenses, Click Start or Update by Less common business expenses
Then click Update by Health Insurance Premiums
Self-employed health insurance deduction goes on Form 1040 Schedule 1 line 16 (then to 1040 10a), as long as the expense is not greater than your net self-employment income. If it does exceed your net self-employment income it gets split automatically. An amount equal to your net self-employment income goes on Form 1040 and the remainder gets added in to medical expenses on Schedule A.