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#2
12-14-2004, 12:40 AM
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 Re: Self employed health insurance deduction, Medicare & Turbox tax jo wrote: - quote - > I'm on SSDI and have Medicare with a Medigap policy. I also
I think you're misreading the Turbo Tax instructions. (That's> have a (very) small home based business, which I've had > since the late '80's when I first went on disability. When > going thru the Turbo Tax, I reached the point where it asked > me for Schedule A deduction for health insurance premium > amount, less the self employment portion and the Medicare > premiums. The Help seemed to be saying that only the amount > I spend on the gap policy is eligible for treatment as self > employed health insurance, not the Medicare part B amount. > Is that correct? If so, what's the logic behind this rule? > Thanks. why tax preparers cannot be replaced by software.) << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
12-14-2004, 12:21 AM
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| Re: Self employed health insurance deduction, Medicare & Turbox tax - quote - > I'm on SSDI and have Medicare with a Medigap policy. I also
I believe TurboTax picks up the Medicare part B payments> have a (very) small home based business, which I've had > since the late '80's when I first went on disability. When > going thru the Turbo Tax, I reached the point where it asked > me for Schedule A deduction for health insurance premium > amount, less the self employment portion and the Medicare > premiums. The Help seemed to be saying that only the amount > I spend on the gap policy is eligible for treatment as self > employed health insurance, not the Medicare part B amount. > Is that correct? If so, what's the logic behind this rule? > Thanks. when you enter your Social Security receipts for the year and transfers them to Schedule A. If you were to enter them again when you're entering your other medical expenses, they would be double counted. Ira Smilovitz << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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12-14-2004, 12:02 AM
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| Re: Self employed health insurance deduction, Medicare & Turbox tax "jo" <phillysleuth[at]verizon.net> wrote: - quote - > I'm on SSDI and have Medicare with a Medigap policy. I also
I'm afraid that logic is not a part of the Internal Revenue> have a (very) small home based business, which I've had > since the late '80's when I first went on disability. When > going thru the Turbo Tax, I reached the point where it asked > me for Schedule A deduction for health insurance premium > amount, less the self employment portion and the Medicare > premiums. The Help seemed to be saying that only the amount > I spend on the gap policy is eligible for treatment as self > employed health insurance, not the Medicare part B amount. > Is that correct? If so, what's the logic behind this rule? > Thanks. Code as passed by Congress. Wayne Brasch, CPA, M. S. Taxation << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
12-11-2004, 01:22 AM
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| Self employed health insurance deduction, Medicare & Turbox tax I'm on SSDI and have Medicare with a Medigap policy. I also have a (very) small home based business, which I've had since the late '80's when I first went on disability. When going thru the Turbo Tax, I reached the point where it asked me for Schedule A deduction for health insurance premium amount, less the self employment portion and the Medicare premiums. The Help seemed to be saying that only the amount I spend on the gap policy is eligible for treatment as self employed health insurance, not the Medicare part B amount. Is that correct? If so, what's the logic behind this rule? Thanks. jo << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| deduction, employed, health, insurance, medicare, tax, turbox |
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