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Where do I enter my dependent college student's healthcare premium? 3 family members on Markeplace 1095-A & 1 college student on college health insurance.

 
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MinhT1
Employee Tax Expert

Where do I enter my dependent college student's healthcare premium? 3 family members on Markeplace 1095-A & 1 college student on college health insurance.

Your college student's healthcare premium is deductible as medical expenses.

 

You can claim all medical and dental bills, prescription drugs and health insurance premiums paid out-of-pocket as Medical Expenses in Schedule A - Itemized Deductions

 

For tax year 2023, Medical Expenses are subject to the 7.5% rule and you can only claim the excess over 7.5% of your Adjusted Gross Income.

 

Please note that Itemized Deductions will only benefit your taxes when they exceed your standard deduction.

 

For tax year 2023, standard deductions are:

  • $27,700 for married couples whose filing status is “married filing jointly” and surviving spouses;
  • $13,850 for singles and married couples whose filing status is “married filing separately”; and
  • $20,800 for taxpayers whose filing status is “head of household.”

 

The additional standard deduction for a blind taxpayer—i.e. a taxpayer whose vision is less than 20/200— and for a taxpayer who is age 65 or older at the end of the year is for each instance:

  • $1,500 for married individuals; and
  • $1,850 for singles and heads of household.

 

In TurboTax Online, you can enter Medical expenses by following these steps:

  1. Open your tax return
  2. Click on the down arrow on the right of Federal in the left-hand column, then on Deductions & Credits
  3. Locate the section Medical and click on the arrow on the right 
  4. Click Start next to Medical Expenses.
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