"Gary" wrote:

- quote -

If you itemize deductions your premium is an allowable medical expense.
Other than that, no.
--
Phil Marti
Clarksburg, MD

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"Gary" <ghorne2000[at]yahoo.com> wrote
- quote -




Quit one job and found another. I'm impressed.

It's possible that you can take a Schedule A deduction for the Cobra as
medical, subject to a 7.5% AGI shave.









--
Paul Thomas, CPA
Watkinsville, Georgia

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

I quit one full time job and went to another company where I needed to
wait 60 days for Health insurance, I ended up paying for Cobra for 60
days so that there would not be a lapse in health coverage or issues
with any pre-existing conditions. Is there any tax benefit of paying
for Cobra ?

Thanks,

Gary

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >