When can seniors deduct Medicare premiums on their tax returns?

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When can seniors deduct Medicare premiums on their tax returns?

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June 13, 2023 , , , ,

Medicare tax deduction

If you’re age 65 and older and have basic Medicare insurance, you may need to pay additional premiums to get the level of coverage you want. The premiums can be costly, especially for married couples with both spouses paying them. But there may be an advantage: You may qualify for a tax break for paying the premiums.

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Seniors: Medicare Premiums Could Lower Your Tax Bill

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April 13, 2019 , , ,

medicare premiums

Americans who are 65 and older qualify for basic Medicare insurance, and they may need to pay additional premiums to get the level of coverage they desire. The premiums can be expensive, especially if you’re married and both you and your spouse are paying them. But one aspect of paying premiums might be positive: If you qualify, they may help lower your tax bill.
Continue Reading: Seniors: Medicare Premiums Could Lower Your Tax Bill