Submitted By: Scott
Answered: October 26, 2015 11:31 am

Do Medicare benefits count as income for determining whether I have to file my return? Do I pay taxes on Medicare benefits?

No. Medicare benefits are tax free; they don’t count as income for determining filing and are not taxed. What’s more, Medicare premiums are tax deductible if you itemize your personal deductions and don’t claim the standard deduction.

Tags: Medicare
Tax Glossary

Gift tax

Gifts in excess of an $12,000-per-donee annual exclusion are subject to gift tax, but the tax may be offset by a gift tax credit.

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