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February 9, 2023
Question

1098-T for graduate student includes insurance premiums in box 1

  • February 9, 2023
  • 1 reply
  • 0 views

Hello, 

 

I am wondering if I am able to deduct my health insurance premiums from my taxes or not. I am in graduate school, so the university offers its health insurance plan. I enrolled and was charged for the premium. Technically, my financial aid covered it.  The premium is included on my 1098-T for payments received for qualified expenses. I am wondering if I am still able to claim these premiums paid or not because they were paid with my financial aid.

 

Thank you. 

 

    1 reply

    DaveF1006
    February 9, 2023

    No, because this cannot be claimed as an educational expense. Since this was paid with financial aid, you would not be able to claim this elsewhere in your return because this is not an out-of-pocket expense to you in 2022. 

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    zspin1Author
    February 9, 2023

    Awesome! Thank you for the clarification. I figured I wouldn't be able to but wanted to triple-check.