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I got a 1099 for COBRA Health Insurance premiums. how do I claim that?

Forum|Forum|6 years ago
June 1, 2019
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TurboTax Deluxe Online

Best answer by MarciaB

If you are paying the COBRA premiums with out of pocket funds, you can deduct the premiums paid as an eligible medical expense on Schedule A as an itemized deduction. Only your total medical expenses greater then 10% of your AGI can be deducted if you are under the age of 65. If you are age 65 or older then the AGI limit is 7.5%. Your total itemized deductions must be greater then your standard deduction to have any tax benefit.

Go to Federal Taxes.
Click on the Deductions and Credits tab.
Click on Explore on My Own.
Scroll down to Medical.
On Medical Expenses, select the start/update button.
Follow the prompts.

T

TaxGuyBill

Were you paying for COBRA, or was your employer paying it?
If you paying it, you should NOT have received a 1099. You should contact your former employer for a correction.

K

ksantos0Author

I paid for 10% of it and my employer paid the remaining 90%. Does that make a difference?

T

TaxGuyBill

If your employer paid for part of it, then it was correct for them to send you a tax form. About 2/3 of the way down on the "Income" tab, is a section called "Other Common Income". The 1099 would be entered there.

K

ksantos0Author

great, thank you!!

M

MarciaBAnswer

If you are paying the COBRA premiums with out of pocket funds, you can deduct the premiums paid as an eligible medical expense on Schedule A as an itemized deduction. Only your total medical expenses greater then 10% of your AGI can be deducted if you are under the age of 65. If you are age 65 or older then the AGI limit is 7.5%. Your total itemized deductions must be greater then your standard deduction to have any tax benefit.