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-   -   IRS Deductions (https://www.askmehelpdesk.com/showthread.php?t=807867)

  • Feb 4, 2015, 08:35 AM
    TrueFan
    IRS Deductions
    If or rather when I turn 65 and start being covered by Medicare, can I deduct my premiums for Medicare from my taxes, provided I meet percentage requirements? Also, can I deduct secondary insurance premiums if I meet percentage?
  • Feb 4, 2015, 05:51 PM
    AtlantaTaxExpert
    Yes, you can deduct those premiums as itemized deductions.
  • Feb 5, 2015, 05:34 AM
    ScottGem
    ATE, do they have to pass the threshold for medical expenses?
  • Feb 5, 2015, 11:31 AM
    AtlantaTaxExpert
    Yes, but the OP seems to be aware of that requirement!
  • Feb 5, 2015, 11:37 AM
    catonsville
    Aren't your medical costs deductible, any time, as long you meet the percent?
  • Feb 5, 2015, 12:30 PM
    joypulv
    Yes, catonsville, but this person is asking about the premiums, which many people don't realize. Plus the Medicare premium is deducted from our SS checks. We never get a bill and many people don't even know how much it is.
  • Feb 5, 2015, 12:31 PM
    ScottGem
    Quote:

    Aren't your medical costs deductible, any time, as long you meet the percent?
    That's what I wanted to make clear, That medical insurance premiums are lumped in with all medical expenses and, only if you meet the threshold can you deduct.
  • Feb 5, 2015, 01:15 PM
    AtlantaTaxExpert
    The premium ($1259) is on Form 1099-SA

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