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cglex
New Member

Where do i enter self employed health insurance premiums related to my schedule c business

for line 29 on 1040

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Where do i enter self employed health insurance premiums related to my schedule c business

Are you using the Desktop Home & Business version?

Go to
Business tab-Continue
Choose Jump to Full List -or I'll choose what I work on

Then…..
Business Income and Expenses - Click the Start or Update button

Then click EDIT by the business name and the next screen should be a list of  topics,
Business Profile, Income, Inventory/Cost of Goods Sold, Expenses, Assets, and Final Details last.

Under Business Expenses, Click Start or Update by Other common business expenses
Then click Update by Insurance Payments
Then click Update by Health Insurance Premiums

Self-employed health insurance deduction goes on Form 1040 line 29, as long as the expense is not greater than your net self-employment income. If it does exceed your net self-employment income it gets split automatically. An amount equal to your net self-employment income goes on Form 1040 line 29, and the remainder gets added in to medical expenses on Schedule A.

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5 Replies

Where do i enter self employed health insurance premiums related to my schedule c business

Are you using the Desktop Home & Business version?

Go to
Business tab-Continue
Choose Jump to Full List -or I'll choose what I work on

Then…..
Business Income and Expenses - Click the Start or Update button

Then click EDIT by the business name and the next screen should be a list of  topics,
Business Profile, Income, Inventory/Cost of Goods Sold, Expenses, Assets, and Final Details last.

Under Business Expenses, Click Start or Update by Other common business expenses
Then click Update by Insurance Payments
Then click Update by Health Insurance Premiums

Self-employed health insurance deduction goes on Form 1040 line 29, as long as the expense is not greater than your net self-employment income. If it does exceed your net self-employment income it gets split automatically. An amount equal to your net self-employment income goes on Form 1040 line 29, and the remainder gets added in to medical expenses on Schedule A.
Anonymous
Not applicable

Where do i enter self employed health insurance premiums related to my schedule c business

did you have coverage through the ACA, because entry becomes complicated 

cglex
New Member

Where do i enter self employed health insurance premiums related to my schedule c business

No, I didn't
aseacohen
New Member

Where do i enter self employed health insurance premiums related to my schedule c business

I do have ACA insurance but no assistance. Doesn't seem that Turbo tax gave me the deduction it just shows that I have 0 assistance. Do I add it to my schedule C deductions? Thanks! 

Where do i enter self employed health insurance premiums related to my schedule c business

@aseacohen   No.  On the screen immediately after entering (or editing) your 1095-A, check the self employed box.  That will give you the Self Employed Health Insurance deduction if you qualify for it.

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