Can I deduct the health care premiums paid through my regular employer as a business expense for my home business? Item 14 on Form 1040 for my home business.

[Anita01 · Accepted solution]

No, in order for these expenses to be deductible against your self-employment, the plan would have to have been taken out for your own business. Such expenses also cannot stem from a subsidized plan and most all company plans are subsidized.  You can, however, deduct the expense as an itemized deduction on Schedule A, but only if the premiums are paid after tax, not pretax, meaning you can't receive a reduction in the amount in Box 1 of your W-2 for the premiums.  Unfortunately, your medical expenses for Schedule A are only deductible for the amount that exceeds 10% of your Adjusted Gross Income.