I quit one full time job and went to another company where I needed to wait 60 days for Health insurance, I ended up paying for Cobra for 60 days so that there would not be a lapse in health coverage or issues with any pre-existing conditions. Is there any tax benefit of paying for Cobra ?
Thanks,
Gary
"Gary" wrote
Quit one job and found another. I'm impressed.
It's possible that you can take a Schedule A deduction for the Cobra as medical, subject to a 7.5% AGI shave.
If you itemize deductions your premium is an allowable medical expense. Other than that, no.
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