Question

Self employed Medicare Deduction if disabled

Forum|Forum|3 years ago
January 5, 2023
1 reply
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I understand that someone on social security who is self employed can deduct their Medicare B premiums.

Is the same true if someone is on social security dissability and is self employed? Will IRS distiquish them as different?

Thank you in advance.

TurboTax Home & Biz Windows

VolvoGirl

Employee

It's not really different. They both come on a SSA-1099 Form. Self-employed health insurance deduction goes on Schedule 1 line 17 (which goes to 1040 line 10), as long as the expense is not greater than your net self-employment income. If it does exceed your net self-employment income it gets split automatically. An amount equal to your net self-employment income goes on Schedule 1 and the remainder gets added in to medical expenses on Schedule A. It will not reduce any SE Tax on a net profit. It just reduces your AGI.

How to enter in the Desktop Home & Business version
https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-health-insurance-premiums-in-turbotax-cd-download-home-business-if-i-m-self/00/26387

VolvoGirl

Employee

Medicare plan B payments are qualified as Self-employed medical insurance premiums and should be entered under Business instead of in the SSA-1099 Social Security Benefits section.

dvdgarofaloAuthor

Thanks much.

Does it matter whether the benefits are recieved as a result of retirement or dissability? I assume IRS views them as teh same as both are on the ssa1099.