Premium which you pay for any medical insurance plan even though it is private, is treated as a normal medical expense. Premium which you had paid for the medical insurance plan is to be entered as the way you would have entered ordinary medical expenses. To enter medical expenses follow the steps outlined below:
- Sign in to your return.
- Select Find (or the magnifying glass icon) in the top right corner of the page.
- Type Medical Expenses in the Find Window and select Medical Expenses Profile and click on Go.
- From the available options select Medical receipts - 2021 and click Continue.
- In the Medical Expenses window, TurboTax will display the minimum amount of eligible medical expenses which is required to generate a tax benefit. Click on Enter New Medical Expense.
- In the Medical Expenses window, you can either choose to enter detailed medical expenses (click on the + Add Medical Receipt, in the Medical Expenses Receipt # 1, enter the required details, and click on Enter New Medical Expense, and Continue until you are done.) or a total of your medical expense for the year, including your premium for the premium payments you paid (Enter the total amount under the heading Enter Medical Expenses Total Amount). Click on Continue.
- On the Medical Expense Summary page, click Enter New Medical Expense if you wish to enter more medical expenses or click on Done With Medical Expenses if you are done entering your medical expenses.
- On the Medical Expense Claim page, you can choose to claim or not to claim, and even determine the starting and ending date for your claim period. After doing so, click on Continue to save your entries. You are done entering your medical expenses including your premium for medical insurance.
For more information visit our TurboTax FAQ- How do I enter my medical expenses?
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