Where do we add insurance premiums

[Irene2805 · Accepted solution]

Where you enter insurance premiums depends on the type of insurance.

Mortgage Insurance

To enter your mortgage insurance premiums, please follow these steps:

1. Click on Federal  > Deductions & Credits
2. In the Your Home section, clicking the Start/Revisit box next to Mortgage Interest, Refinancing, and Insurance (Form 1098). 

If you've already entered information on your mortgage, you will be brought to the Mortgage deduction summary screen.  Click the Edit box next to your lender's name. Continue through the screens until you reach Let's get the details from your [lender's name] 1098 now.  Enter the Mortgage Insurance Premiums in the second box on the screen, Box 5 - Mortgage insurance Premiums.
 

Health Insurance

Please keep in mind the following about deducting your medical expenses, including health insurance:

• You don't get the benefit if you are taking the standard deduction.
• If you itemize deductions, you will only be able to take total medical expenses that are greater than 7.5% of your adjusted gross income

NOTE:  If you are receiving Social Security benefits, TurboTax automatically transfers the premiums paid for Medicare Part B to your Schedule A.  You do not need to enter these amounts again.  Just include the premiums for any supplement policy.

To enter your medical expenses, please follow these steps:

1. Click on Taxes > Deductions & Credits 
2. In the Medical section, click on the Start/Revisit box next to Medical Expenses.  If you haven't yet entered any medical expenses, TurboTax will ask you if your total medical expenses exceed a certain number.  [That's the 7.5% AGI mentioned above
3. If you think your total medical expenses will exceed that number, click the blue Yes box and continue through the interview, entering the requested information on your medical expenses.