Premiums for Medicare Part B may be tax-deductible under what circumstance?

Premiums for Medicare Part B may be tax-deductible under what circumstance?



a. They are an automatic tax credit for persons over age 65.

b. They are not deductible under any circumstance.

c. If the premiums are deducted from income tax, all benefits are taxable.

d. The premiums for Medicare Part B are includable in overall medical expense for deduction subject to the 10% threshold for medical expense deduction.



Answer: d. The premiums for Medicare Part B are includable in overall medical expense for deduction subject to the 10% threshold for medical expense deduction.

Comments

Popular posts from this blog

You are riding in Sarah's car when she fails to yield and causes an accident. Which of the following coverages would NOT pay for your injuries?