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Deductions For People On Medicare. For taxation purposes a person can claim a Medicare Deduction to help minimize the amount of taxes that they owe. That is that if a person is required to pay a substantial amount of costs as per there Medicare plan, those costs can be offset by the tax deduction.
Medicare tax withheld from wages should be added to the FICA or U.S. or Massachusetts pension contribution for this deduction, the amount not to exceed $2,000. Medicare premiums deducted from social security benefits or retirement payments are not an allowable deduction since the benefits are not included in gross income.