Can I include Medicare deduction from Social Security as health premiums on my taxes?

Question

neither husband or myself is self employed, he has both A and B

Answer 1

I think we are all reading the question differently. Based on my reading, Serge's answer is correct. The other answers are also right, but I don't think they are addressing what the OP is asking.

I think the question is whether the Medicare part A or B premiums withheld from the person's social security check are deductible. Serge gives the correct answer to that question.

The other answers seem to interpret the question as asking if the medicare tax on wages is deductible as a medical expense. Those answers are also right, as the tax is not deductible.

Answer 2

The poster never mentioned if they were self-employed or not...thus we don't know if they are asking about the line on the front of the 1040 for self-employed health insurance or if they were merely asking about schedule A.

For schedule A, part B is an itemized dededuction. If the poster has a lot of other medical expenses, they may be able to itemize.

Answer 3

Medicare contributions are taken from my ss check. I know that. I also know that I may pay taxes from up to 85% of my ss income.I also know that 1/2 of my ss income is counted toward the total income (line 5 from SSA 1099)
My specific question question is:
Does line 5 includes TOTAL benefits or is the benefit minus the medicare deductions.

This is information is important because I need to know how much to take from my IRA without exceeding certain income, therefore I cannot wait until January for the form.
Thanks

Answer 4

Yes, the medicare payments that are deducted from your Social Security are for medical insurance which is a tax deductible expense. You can combine them with all your other medical expenses and medical insurance and include them in Schedule A of your tax return. Be sure you also include the mileage deduction for driving to your medical treatments, and also the cost of dental services, eyeglasses, hearing aids, etc.

All together these costs have to be reduced by 7.5 percent of your adjusted gross income before you arrive at the deductible portion.

Answer 5

Medicare-A is funded bu employement taxes by workers and is not deductable.

Medicare-B is insurance to cover doctors visits and is paid by Social Security recipients out of their benefits and is deductable.

Answer 6

No, that is explicitly excluded. (Serge M is usually pretty good but has missed the boat completely on this one.)

If you are self employed you may take an above-the-line adjustment for 1/2 of the Self-Employment taxes you paid, but that's it.

Answer 7

A rare miss by Boston. Perhaps he should not so smugly announce that someone else missed the boat.

Answer 8

Bostonia is exactly right on this. Nice job.