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.
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2010 1040 insructions
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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???
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Originally posted by jimenright View Postpg 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.Believe nothing you have not personally researched and verified.
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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.
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