- Evaluate My Situation
- Find Alternatives to Court
- Find Court and Legal Forms
- Research the Law
- File a Case
- Finding a Party
- How to Find Lost Vital Records
- Using a Private Investigation Service
- Preparing Your Case and Yourself for District Court
- Which Court Rules Apply to My Case?
- Frequently Asked Questions About "Service"
- Document Requirements
- Filing a Motion in a Maryland Circuit Court
- Maryland Circuit Court Discovery
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- Appeal or Enforce a Decision
Deducting Medicare Premiums
Many older taxpayers have Medicare premiums deducted from their Social Security checks each month and forget to take the deduction at the end of the year. Most Medicare premiums are deductible as a medical expense on Schedule A of Form 1040. Medicare when added to other medical costs such as co-pays, health insurance premiums or long term care premiums, often results in a deductible benefit. More on medical premium can be found from IRS under Medical and Dental Expenses.
If you voluntarily enrolled in Medicare A because you were not otherwise covered, you can deduct your Medicare A premiums. If you are enrolled in Medicare B supplemental medical insurance, the premiums you pay can be deducted as a medical expense. The same is true for Medicare Part D. All allowable medical expenses must be reduced by 7.5% of adjusted gross income.
Source:IRS Publication 502 Medical and Dental Expenses http://www.irs.gov/pub/irs-pdf/p502.pdf
Is this legal advice?
This site offers legal information, not legal advice. We make every effort to ensure the accuracy of the information and to clearly explain your options. However we do not provide legal advice - the application of the law to your individual circumstances. For legal advice, you should consult an attorney. The Maryland State Law Library, a court-related agency of the Maryland Judiciary, sponsors this site. In the absence of file-specific attribution or copyright, the Maryland State Law Library may hold the copyright to parts of this website. You are free to copy the information for your own use or for other non-commercial purposes with the following language “Source: Maryland's People’s Law Library – www.peoples-law.org. © Maryland State Law Library, 2013.”