Tax Reduction Letter - Medicare as a Self-Employed Insurance Cost

Article Date:

October 2008

Word Count:

832

Medicare as a Self-Employed Insurance Cost

In the June 2008 Tax Reduction Letter (Vol. 17, No. 6), you indicate that a self-employed person can deduct, as self-employed health insurance, premiums paid for Medicare. I think this is wrong. I believe Medicare is a subsidized plan, not eligible for the self-employed insurance deduction on the front page of the Form 1040. Further, I don’t believe that Medicare is related to the taxpayer’s Schedule C business. Do you have support for your position? (C.L.L., Scottsdale, Ariz.)

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