Can these payments go on Schedule A? I have other medical expenses that I've been accumulating. I project the year-end total for medical expenses to be > 8K.
2006-07-27 13:43:39 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Grasshopper's answer is wrong. You can absolutely deduct COBRA payments since you are paying the premiums with after-tax dollars. This is contrary to employer-provided insurance which is usually paid with pre-tax dollars.
2006-07-27 14:37:55 · answer #1 · answered by taxmannyc 3 · 1⤊ 0⤋
My guess would be no. I've never heard of anyone able to deduct for medical expenses. Hopefully I'm wrong, I too have been on cobra this past year.
2006-07-27 13:50:54 · answer #2 · answered by Scott C 2 · 0⤊ 0⤋
Sorry, cobra payments are not deductible items.
2006-07-27 14:01:59 · answer #3 · answered by Grasshopper 4 · 0⤊ 0⤋
Yes as long as total medical over 7.5% of income
2006-07-28 02:57:11 · answer #4 · answered by vegas_iwish 5 · 0⤊ 0⤋
Yes you can deduct them with your non-covered medical expenses that exceed 7.5% of your AGI.
2006-07-27 23:23:19 · answer #5 · answered by extra_37 4 · 0⤊ 0⤋