39096
You'll need to sign in or create an account to connect with an expert.
Generally, if the employer paid the premiums for the insurance policy, the benefits are taxable to you. Please see these links:
https://www.irs.gov/publications/p15a/ar02.html (under 6. Sick Pay Reporting)
http://taxmap.ntis.gov/taxmap/pubs/p15a-005.htm
Generally, if the employer paid the premiums for the insurance policy, the benefits are taxable to you. Please see these links:
https://www.irs.gov/publications/p15a/ar02.html (under 6. Sick Pay Reporting)
http://taxmap.ntis.gov/taxmap/pubs/p15a-005.htm
How/where in the tax return do you record the medical expenses related to this type of a payout?
If you itemize, they are deductible on Schedule A as a medical expense.
You can deduct the portion of medical expenses that exceeds 7.5% of your adjusted gross income (AGI) for 2019.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
HMC4
New Member
alyssathomps36
New Member
olson-mark1976
New Member
tjams4him
New Member
Ty241
New Member