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Experts at Maximize My Social Security have answered more than 10,000 questions about Social Security over many years. Search for your questions and answers here.
Do Medicare Deductions Reduce The Taxable Amount Of My Income?
when the ins co deduct $134/mo from my social security check does this reduce the taxable amount of my income
Hi,
I assume that the $134 monthly deduction to which you are referring is your Part B Medicare premium. Those premiums do not reduce the amount of your Social Security income that could potentially be taxable. For more information on taxation of Social Security benefits, refer to the Social Security website: https://www.ssa.gov/planners/taxes.html.
Best, Jerry
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December 3, 2017