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If you itemize, your health insurance premiums are allowable medical expenses. To deduct medical expenses if you itemize, they have to exceed 7.5% of your AGI - you can only deduct the amount that's over that.

2007-12-11 14:29:09 · answer #1 · answered by Judy 7 · 2 0

If you're not self employed, the only place you can deduct health insurance premiums is under medical expenses on Schedule A. But remember, you can only take the expenses (including Ins. Premiums) that exceed 7.5% of your Adjusted Gross Income (basically the bottom figure on page one of your 1040.

2007-12-11 22:31:33 · answer #2 · answered by nealeinmi 3 · 1 0

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