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david-merle-mont
New Member

Is it okay to deduct exchange health insurance premiums from only one schedule C in a partnership for two spouses filing jointly?

My wife and I are self-employed, filing jointly. TurboTax said we should split the business income and expense 50/50 on two schedule Cs. However, in the Health Insurance section, we can only associate our 1095-A for our exchange health insurance plan to one of the schedule Cs. Will this cause any issues with getting the maximum refund?

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DDollar
Level 4

Is it okay to deduct exchange health insurance premiums from only one schedule C in a partnership for two spouses filing jointly?

No, it should not affect your total tax.  It will result in one of you paying more into Social Security than the other.  This could have an impact on retirement benefits over a long period of time.  You might want to alternate which Schedule C to associate it with so that you each take it one out of two years.

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DDollar
Level 4

Is it okay to deduct exchange health insurance premiums from only one schedule C in a partnership for two spouses filing jointly?

No, it should not affect your total tax.  It will result in one of you paying more into Social Security than the other.  This could have an impact on retirement benefits over a long period of time.  You might want to alternate which Schedule C to associate it with so that you each take it one out of two years.

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