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Pretax health insurance premiums.

My employer doesn't offer health insurance. Can I deduct my health insurance premiums from my taxes?

  • I work as a part-time/temp employee (although still 40 hours/week.) After 1,000 hours they offered me health insurance, but before then I was paying for an individual plan. Can I deduct the premiums I paid up until enrolling in the company's group plan?

  • Answer:

    You can deduct medical expenses you paid out of pocket on Schedule A, to the extent those expenses exceed 7.5% of your income. If you had any self-employment income, you could take 100% of those out-of-pocket medical insurance premiums off that income, up to the net income from self-employment.

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If you itemize, you can include health insurance premiums as medical expenses. But medical expenses can only be deducted for the amount that's over 7.5% of your income, so it's not real likely that you'd be able to.

Judy

Your insurance and medical bills paid out of your pocket would have to be over 7.5% of your adjusted gross income which would go on itemized deductions depending on your filing status and other deductions.

!DookDook! ♥

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