turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Social Security & Medicare calculating expenses

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.

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Social Security & Medicare calculating expenses

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,
Go to
Business tab-Continue
Choose Jump to Full List -or I'll choose what I work on

Then…..
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.

Social Security & Medicare calculating expenses

Thank you for your prompt response!  I think I listed (added) the information when I entered the SA1099, but I will go back and double-check and see if my Medical total is affected.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies