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2010 1040 insructions

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    2010 1040 insructions

    pg 29 explicitly states that Medicare Pt B premiums can be used to figure the deduction for self-employed health insurance. Does this also include Pt D premiums? I would think that if Pt B can be used Pt D can also be used.

    #2
    I would conclude that

    Unless there is statutory language to the contrary, the ordinary prudent man would say the allowance of Part B implies Part D may be used as well.

    Comment


      #3
      And then look at page 18, center of middle column under Tip in which it states "Medicare Part B premiums are not considered medical insurance premiums for purposes of the self-employed health insurance deduction".

      And below this statement it further says "Take the deduction on Form 1040, line 29".

      What gives here? Probably a clerical mistake?

      I've been reading about Medicare Part B insurance issues for years but why dosen't IRS put an end to all the chatter on this subject. It just won't go away......

      The final and correct answer has to be provided at some point???

      Comment


        #4
        Originally posted by jimenright View Post
        pg 29 explicitly states that Medicare Pt B premiums can be used to figure the deduction for self-employed health insurance. Does this also include Pt D premiums? I would think that if Pt B can be used Pt D can also be used.
        My take is that if it specifies Pt B but not Pt D do not assumee Pt D is included. I think they would say Pt B and Pt D if they intended to include both.
        Believe nothing you have not personally researched and verified.

        Comment


          #5
          The quote you give

          is not from the 2010 1040 instructions, but from pub 535 2009 version.

          Comment


            #6
            Not just on this issue but

            on Several researches I have tried so far to date as of 1/16/2011 - we have to be careful to "watch the Pub" DATES

            Not all of the Pubs have been updated for 2010, still only retrieving 2009 Versions

            Sandy

            Comment


              #7
              See TTB updated page 1-14

              The "Medicare Part B premiums" paragraph affirms my original post. However, I still am not sure if Pt D premiums can be used. It only makes sense that they can be used. I guess I will make that assumption until I hear otherwise.

              The ability to take the deduction on my own return makes a big difference When I enter the 1040 line 29 deduction, my software also takes the deduction for SE taxes on Sched. SE ln 3 marked "SEHID." This is according to the instructions printed on that line.
              Last edited by jimenright; 01-20-2011, 11:54 PM. Reason: spelling/grammar

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