How to Claim Health Insurance Premiums on Federal Taxes

How to Claim Health Insurance Premiums on Federal Taxes
You must use form 1040 to claim your medical expenses.

Step 1

Check your financial records to calculate the total you paid in health insurance premiums for the year. You may only include premiums for which you received no reimbursement.

Step 2

Report the total amount paid on line 1 of Schedule A. You can also include any other qualifying medical expenses in the amount.

Step 3

Multiply your adjusted gross income, found on line 38 of your form 1040 tax return, by 0.075 and report the result on line 2 of Schedule A. For example, if your adjusted gross income equals $39,000, you would multiply $39,000 by 0.075 to get $2,925.

Step 4

Subtract the result from step 3 from your deductible medical expenses to compute the amount of money you can deduct for your medical expenses. For example, if you had $6,000 in expenses, you would subtract $2,925 by $6,000 to get $3,075.

Step 5

Report the amount of the deduction on line 4 of schedule A. This amount will be added to your other itemized deductions and used to reduce your taxable income.