chessman
New Member
When I did my income taxes this year, I learned about how my medicare premiums work tax-wise. I did not get to deduct them, because they are not deducted pretax on the 1099-r reporting form. Between my wife's supplemental insurance and both of our medicare premiums, there was a good chunk of change that was taxed.
When I worked, my share of health-care insurance premiums were deducted pre-tax, and self-employed taxpayers have line 29 to report health-care premiums.
Currently, you can itemize medicare premiums, but it only works if itemizing works for you and you have enough medical bills to qualify. Itemizing doesn't work for me.
I wrote to my congressional represetatives, and recommended that senior taxpayers should at least get to deduct healthcare premiums on line 29. I ask you to also write to your congressmen or congresswomen and ask for a tax break on your medicare premiums.
When I worked, my share of health-care insurance premiums were deducted pre-tax, and self-employed taxpayers have line 29 to report health-care premiums.
Currently, you can itemize medicare premiums, but it only works if itemizing works for you and you have enough medical bills to qualify. Itemizing doesn't work for me.
I wrote to my congressional represetatives, and recommended that senior taxpayers should at least get to deduct healthcare premiums on line 29. I ask you to also write to your congressmen or congresswomen and ask for a tax break on your medicare premiums.