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January 31, 2025
Question

Can I deduct medicare advantage premiums?

  • January 31, 2025
  • 1 reply
  • 0 views
If I use the federal standard deduction can I deduct medicare advantage premiums on my Wisconsin return?

    1 reply

    DawnC
    Employee
    January 31, 2025

    Yes.  A subtraction is available for medical care insurance.  Medical care insurance for this purpose does not include premiums for:


    • Long-term care insurance.
    • Life insurance policies.
    • Policies proving payment for loss of earnings.
    • Policies for loss of life, limb, sight, etc.
    • Policies that pay a guaranteed amount each week for a stated number of weeks because of hospitalization.
    • The part of car insurance premiums that provide medical insurance coverage for all persons injured in or by the car.
    • Medical care insurance if the taxpayer elected to pay the premiums with tax-free distributions from a retirement plan.

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