Are the Medicare premiums deducted from my social security deductible on the Montana individual income tax return?
lf you are receiving social security and if you have Medicare premiums deducted from your benefits, these premiums are described as “Medicare premium payments made in 2008” in the description box on Federal Form SSA-1099. These premium payments, known as Medicare B, are 100% deductible as an itemized deduction on Schedule III, Montana itemized deductions, line 5. The basic monthly premium in 2008 was $96.40.
lf you are receiving social security and if you have Medicare premiums deducted from your benefits, these premiums are described as “Medicare premium payments made in 2007” in the description box on Federal Form SSA-1042S. These premium payments, known as Medicare B, are 100% deductible as an itemized deduction on Schedule III, Montana itemized deductions, line 5. The basic monthly premium in 2007 was $93.50.
Related Questions
- What documentation is required to get reimbursed for the Medicare Part B premiums since they are automatically deducted from my Social Security deposit each month?
- Are the Medicare premiums deducted from my social security deductible on the Montana individual income tax return?
- Are the Part B & Part D medicare premiums deducted from my social security benefits each month, tax deductible?
