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Are medicare part b premiums tax deductible?

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Yes is the short answer but there are some guide lines to be followed.


How Much of the Expenses Can You Deduct?

You can deduct on Schedule A (Form 1040) only the amount of your medical and dental expenses that is more than 7.5% of your AGI(Form 1040, line 38).
In this publication, the term "7.5% limit" is used to refer to 7.5% of your AGI. The phrase "subject to the 7.5% limit" is also used. This phrase means that you must subtract 7.5% (.075) of your AGI from your medical expenses to figure your medical expense deduction.
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Is my Medicare B premium already deducted when I receive my monthly SS check?

The answer is nothing because if you are 65 and a US resident you are eligible for medicare even if you do not receive social security   Answer:   If you are enrolled

What is deductible for Medicare part B?

  The Medicare Part B deductible is $135 in 2009, the same as it was in 2008. It is indexed to increase with the Part B actuarial. The lack of an increase in 2009 was an e

What is the deductible for 2010 for medicare part b?

Although not officially announced yet by CMS (Medicare) as of this date (10/13/09), it should remain the same as 2009 for most, if not all, folks in the low to medium income b

Who do you pay Medicare part B deductible to?

Medicare premiums are usually withheld from one's Social Security benefits. If not, the payment address is : Medicare Premium Collection Center P.O. Box 790355 St. Louis,

What is deductible for Medicare part B for 2013?

The Medicare Part B deductible in 2013 is $147, a $5 increase from 2012. Medicare beneficiaries pay the Medicare Part B deductible for services including doctor visits, lab