|
|
| *Loan,banking and credit>>>health insurance |
IF I Itemize On my taxes can I deduct My health insurance I pay at work its over $3000? |
IT would be very nice If I could If you pay for your health insurance with pre-tax dollars, the answer is NO. The medical deductible is after-tax dollars only. The portion you pay of your health insurance from work would have to be paid with monies that are after all taxes are taken out. The other thing with this category on the Schedule A is you only get a percent of this total to deduct. I have found that it has to be a fairly large amount to get the percentage subtracted and then have any amount left to deduct from your taxes. Source(s): Been doing my own or software since 1974 If your health insurance premium is deducted from your paycheck before taxes, then no. That is why there are places like H & R Block, ask the experts. Health insurance premiums paid by you are fully deductible. Your share only. Not the share your employer puts in if any. Sorry, no. Many employers will deduct your premiums from your paychecks with "before-tax" money. However, YOU CAN NOT DEDUCT THEM ON YOUR TAX RETURN. Don't listen to the people above. They are wrong. Maybe they are listening to the H&R Block people. If that is the case, that's another good reason not to use H&R Block. They don't know tax law. IRS / personal experience Use TurboTax, it's only like $30 and it walks you through every possible deduction you can take (which the one you are asking about is listed on there). It's SO worth the money. (and you get your refund within 10 business days) |
| Tags |
| insurance marketing insurance policies insurance premium insurance settlement health insurance medical insurance healthcare insurance dental insurance travel insurance auto insurance |
SiteMap--Copyright/IP Policy--Contact Webmaster For personal non-commercial use only. |