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Can I deduct my health and dental insurance on my Iowa return?

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Question
Can I deduct my health and dental insurance on my Iowa return?

Answer

You may take a deduction for certain health insurance premiums on line 18 instead of IA 1040, Schedule A. Your IA 1040, Schedule A cannot contain any health insurance premiums which are used as a deduction on line 18. Typically, health insurance premiums are made on a pre-tax basis when they are deducted from wages. These premiums are not eligible to be claimed on line 18 or IA 1040, Schedule A.

Enter 100% of the amount paid for:

  • health insurance premiums paid with post-tax dollars
  • supplemental health insurance, such as:
    • Medicare B supplemental medical insurance
    • Medicare D voluntary prescription drug insurance
  • dental insurance premiums paid with post-tax dollars
  • long-term nursing home coverage premiums paid with post-tax dollars regardless of age

Do NOT include:

  • “Medicare tax withheld” on your W-2
  • premiums paid with pre-tax dollars
  • premiums which are later reimbursed, in the same tax year

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Article Details
Views: 1347 Created on: Jun 15, 2013
Date updated: Dec 17, 2018
Posted in: States, Iowa

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