example: on my last paycheck it says I made 40,000 gross and payed 10,000 towards insurance premiums, in my w2 box 1 says 30000 box 14 says 10000.
2007-02-21 04:10:18 · 7 answers · asked by mike 1 in Business & Finance ➔ Taxes ➔ United States
example: on my last paycheck it says I made 40,000 gross and I payed 10,000 towards insurance premiums, in my w2 box 1 says 30000 box 14 says 10000 (I payed).
2007-02-21 04:23:11 · update #1
if they come out pre tax then you can not deduct them.
2007-02-21 04:15:24 · answer #1 · answered by kipp B 3 · 2⤊ 0⤋
here paragraph is taken from an IRS booklet with regards to Itemized Deductions. scientific costs incorporate assurance rates paid for twist of destiny and wellness or qualified long-term care assurance. you will possibly no longer deduct assurance rates for existence assurance, for rules offering for loss of wages via fact of ailment or injury, or rules that pay you a assured volume each and each week for a disease. as properly, the deduction for a qualified long–term care assurance plans's top classification is limited. consult with booklet 502 , scientific and Dental costs.
2016-11-24 22:03:59 · answer #2 · answered by ? 4 · 0⤊ 0⤋
No, if it was taken out pretax, you already have essentially gotten the deduction from your taxable income- you don't get it a second time when you file your tax return.
2007-02-21 09:33:36 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
You can only deduct health insurance premiums only if you paid it. If your employer was paying for it then its his deduction.
2007-02-21 04:15:04 · answer #4 · answered by idak13 4 · 0⤊ 2⤋
they have already been deducted if they were taken out pre-tax
2007-02-21 04:15:19 · answer #5 · answered by Rainy 5 · 1⤊ 1⤋
Yes. List it under Medical Expenses on Schedule A.
2007-02-21 04:15:24 · answer #6 · answered by Anonymous · 0⤊ 5⤋
If they are PRE-Tax... sorry you can't... i wish we could cause I paid a lot too....
2007-02-21 05:09:45 · answer #7 · answered by Nita 2 · 0⤊ 0⤋