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Merlo
Merlo, Accountant
Category: Tax
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Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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Can I deduct the medicare and part D deductions from my social

Resolved Question:

Can I deduct the medicare and part D deductions from my social security monthly payments
Submitted: 4 years ago.
Category: Tax
Expert:  DCrane_Esq replied 4 years ago.
Thank you for the post, do you mean deduct for tax purposes?
Customer: replied 4 years ago.
yes. every month 96.40 is deducted from my Social Security payment for medicare and 19.00 is for my part d prescription plan. are these two amounts deductible as medical insurance expenses on my federal taxes?
Expert:  Merlo replied 4 years ago.

Hello cdunham,

 

Your question has been referred to the tax forum to be addressed.

 

Following is what the IRS allows as deductions on Schedule A as far as Medicare coverage.

 

Medicare A

If you are covered under social security (or if you are a government employee who paid Medicare tax), you are enrolled in Medicare A. The payroll tax paid for Medicare A is not a medical expense.

If you are not covered under social security (or were not a government employee who paid Medicare tax), you can voluntarily enroll in Medicare A. In this situation you can include the premiums you paid for Medicare A as a medical expense.

Medicare B

Medicare B is a supplemental medical insurance. Premiums you pay for Medicare B are a medical expense. If you applied for it at age 65 or after you became disabled, you can include in medical expenses the monthly premiums you paid. If you were over age 65 or disabled when you first enrolled, check the information you received from the Social Security Administration to find out your premium.

Medicare D

Medicare D is a voluntary prescription drug insurance program for persons with Medicare A or B. You can include as a medical expense premiums you pay for Medicare D.

 

If this was helpful please press the Accept button. Positive feedback is also appreciated.

 

Thank you cdunham

 

 

Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
Merlo and 4 other Tax Specialists are ready to help you

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