Medicare Part B deductibility 2%S Corp shareholder I understand that it is now legal to deduct our Medicare supplement premiums, as well as those for personal long term care policies. This deduction is above the line (line 29) on the form 1040. This we have done. However, is it possible to also deduct the amounts we pay through a deduction from our social security checks for Medicare Part B coverage? We have an S Corp and are senior citizens on Medicare and with a small home business.
Last edited by A Renne : 04-20-2009 at 06:33 PM.
Reason: left out some important facts
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