Announcement

Collapse
No announcement yet.

Medicare C premiums confusion

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Medicare C premiums confusion

    Client is receiving Social Security and on Form SSA-1099 there are entries for Medicare B, C, and D premiums "deducted from your benefits."

    The Medicare C premium is shown as "Medicare Advantage premiums" and is less than $50.

    Common sense tells me the Medicare C premiums are a (potential) medical deduction, but even my software is confused as to whether it truly is.

    When I look at the 2011 IRS reference ( http://www.irs.gov/pub/irs-pdf/p502.pdf ) I can find no mention of Medicare C at all.

    Have I (not!) been out in the sun too long recently??

    Thanks for any guidance.

    FE

    #2
    Here is some information on Medicare C

    Comment


      #3
      Clarification

      Originally posted by Gene V View Post
      Here is some information on Medicare C

      http://www.medicare.gov/navigation/m...ookieSupport=1
      I already know what Medicare C is.....the posed question is whether it can be considered a valid medical deduction on Schedule A.

      (I personally think it can!)

      FE

      Comment


        #4
        I don't see

        why not. It is medical insurance.

        Comment


          #5
          Logic does not always rule

          Originally posted by veritas View Post
          why not. It is medical insurance.
          My position exactly.

          However, just try to find it listed in the cited IRS publication. (Reference is made to Medicare A, B, and D only.)

          Intuit product has a separate entry line for same. Other professional software asks only for B and D premiums for medical deduction purposes.

          FE

          Comment


            #6
            Update

            The TaxACT folks have sent me some cut/pasted information from Pub 502 (guess what - it's NOT mentioned even in the current 2011 version!) and they also told me it was "a gray area." I would need to contact the IRS folks to find out the correct answer.

            FWIW: Apparently, for the Intuit software folks, it is NOT "a gray area." They provide a worksheet with line entry for Medicare C premiums which automatically transfers the amount to the worksheet for all other medical expenses.

            Oh well, the amount is not great enough to get stressed over.

            FE

            Comment

            Working...
            X