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Ask Lane Your Own Question
Category: Social Security
Satisfied Customers: 9764
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
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During 2016 I have had high medicare premiums taken from my

Customer Question

During 2016 I have had high medicare premiums taken from my monthly social security (due to IRMAA and MAGI).
when I report income for 2016 will the social security benefit I actually received for 2016 show the gross monthly amount or the net amount received after social security takes out the surtax amount?
during 2016
Submitted: 2 months ago.
Category: Social Security
Expert:  Lane replied 2 months ago.

Hi. My name's Lane. I can help here.


You'll report the gross Social Security benefit, so sorry.


If you'll look at the 1099-SSA that you get in January to file your taxes, you'll note that

  • Box 1. Name
  • Box 2. Beneficiary’s Social Security Number
  • Box 3. Benefits Paid in 2015
  • Box 4. Benefits Repaid to SSA in 2015, and
  • Box 5. Net Benefits for 2015 (Box 3 minus Box 4)


don't deal with the medicare part B premium that can be deducted (you can actually pay this out of pocket - most don't) from the social security benefits.


So no, although it is withheld for convenience your full social security benefit is reported (unless you had to pay back an overpayment - see box 4)


Now, if you itemize, and have enough medical expenses to add that to your itemized deductions, these part B premiums ARE tax dedictible.

Expert:  Lane replied 2 months ago.

Said differently, no, the part B premium and any incremental premium due to IRMMA are just that ... medical inaurance premiums .. but again, CAN be deducted on you schedule A if you itemize, and have enough other medical expenses to get over the threshhold for deducting medical expenses.


Please let me know if you have any questions at all, before rating me


I hope you’ll rate me (using those stars, or faces on your screen, by clicking submit) based on thoroughness and accuracy, rather than any good news / bad news content. Otherwise I’m working for no crediting at all here.

Thank you!


I have a law degree, (Juris Doctorate), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in financial accounting & tax, a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986.

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