Can i deduct health insurance premiums for my wife and I that were paid for by my LLC (I am a sole member LLC with only myself as an employee)?

bobhealy-llc · ‎June 6, 2019

MinhT · ‎June 6, 2019

A one-member LLC is a disregarded entity and you can file a Schedule C for your LLC.

Yes, you can deduct health insurance premiums paid for you, your spouse and your dependents.

In TurboTax Self-Employed, you enter your health insurance premiums in the Business Expenses section of your business under the Business tab.

Go to Business Expenses > Other Common Business Expenses > Insurance payments > Health Insurance Premiums (see attached screenshot).

TurboTax will transfer the amount to line 29 of form 1040.

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MinhT · ‎June 6, 2019

A one-member LLC is a disregarded entity and you can file a Schedule C for your LLC.

Yes, you can deduct health insurance premiums paid for you, your spouse and your dependents.

In TurboTax Self-Employed, you enter your health insurance premiums in the Business Expenses section of your business under the Business tab.

Go to Business Expenses > Other Common Business Expenses > Insurance payments > Health Insurance Premiums (see attached screenshot).

TurboTax will transfer the amount to line 29 of form 1040.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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