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I draw a very small amount of SS. It all goes to Medicare…

I draw a very...

I draw a very small amount of SS. It all goes to Medicare (plus I pay some extra to Medicare to make up the difference). Do I need to report the SS money as income on my incomes taxes or since it is taken for Medicare before it reaches me is it tax free?

Accountant's Assistant: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits properly. Is there anything else important you think the Retirement Accountant should know?

Just the question I sent you.

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Answered in 5 minutes by:
3/17/2018
TaxRobin
TaxRobin, Tax Preparer
Category: Social Security
Satisfied Customers: 18,375
Experience: 15+ years in tax preparation and instruction
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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Customer reply replied 5 months ago
Thank you.

You do have to report the SSA benefit that shows on your SSA-1099 even if it goes to Medicare but any taxable amount is based on your other income.

FYI: When filing an itemized Schedule A (1040) tax return, you may be able to deduct many medical and dental expenses as well as Medicare premiums. Premiums for Medicare programs – Part B (supplemental medical insurance), Part C (Medicare Advantage), and Part D (voluntary prescription drug insurance) – are deductible.

TaxRobin
TaxRobin, Tax Preparer
Category: Social Security
Satisfied Customers: 18,375
Experience: 15+ years in tax preparation and instruction
Verified
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