Can You Deduct Medicare Premiums
You can deduct your Medicare premiums and other medical expenses from your taxes. If you itemize your deductions on the 1040 form when you file your taxes you might be able to deduct your Medicare Advantage premiums. Medicare Costs Will Rise Slightly In 2021 But Beware Of Irmaa Seeking Alpha You may be able to include them as an itemized deduction on your Schedule A instead. Can you deduct medicare premiums . Yes your monthly Medicare Part B premiums are tax-deductible. This includes medical and dental expenses as well. Thats followed by the self-employed health insurance deduction and the itemized deduction in that order. In addition to Medicare premiums you can deduct various medical expenses including those for dental treatment ambulance services dentures eyeglasses and contacts hospital services lab tests qualified long-term care services prescription medicines and others. The rules for deduction depend on your specific circumstances including your income and employmen