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January 29, 2025
Question

where do i enter monthly UAW healthcare premiums on my tax form?

  • January 29, 2025
  • 2 replies
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where do i enter monthly UAW healthcare premiums on my tax form?

    2 replies

    Employee
    January 29, 2025

    Do you pay those premiums out of pocket or are they deducted from your paychecks?   If they are deducted from your paychecks they will automatically flow over to medical expenses when you enter your W-2.  

     

    If you are paying out of pocket:

    MEDICAL EXPENSES

    The medical expense deduction has to meet a rather large threshold before it can affect your return. The amount of medical (including dental, vision, etc.)  expenses that will count toward itemization is the amount that is OVER 7.5% of your adjusted gross income. You should only enter the amount that you paid in 2024—do not include any amounts that were covered by insurance or that are still outstanding.  Of course, your medical expenses plus your other itemized deductions still have to exceed your standard deduction before you will see a difference in your tax due or refund.

     

    To enter your medical expenses go to Federal>Deductions and Credits>Medical>Medical Expenses

     

    2024 STANDARD DEDUCTION AMOUNTS

    SINGLE $14,600    (65 or older/legally blind + $1950)

    MARRIED FILING SEPARATELY $14,600    (65 or older/legally blind + $1550)

    MARRIED FILING JOINTLY $29,200    (65 or older/legally blind + $1550)

    HEAD OF HOUSEHOLD $21,900    (65 or older/legally blind + $1950)

     

    **Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
    JohnB5677
    January 29, 2025

    Be advised that there are limits to be eligible for Medical Deductions

    You can only deduct the part of your medical and dental expenses that is more than 7.5% of your adjusted gross income (AGI)

     

    To post your Medical expenses

    Log into TurboTax

    1. Under Federal
    2. Select Deductions & Credits
    3. Scroll down the list to Medical.
    4. Click the down arrow
    5. Choose Medical Expenses
    6. TurboTax will tell you the amount of medical expenses you need to be eligible for a deduction.
    7. It my look like you should be getting Itemized deductions based on the raw numbers,  but after crunching the numbers it may not be the best choice for you.

    Here are some of the limitations to Itemized deductions

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