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posted Jun 4, 2019 7:01:03 PM

Schedule c self employed

where do I post my self employed health insurance premiums I paid directly to Humana>

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2 Replies
Level 15
Jun 4, 2019 7:01:05 PM

Under Business Expenses - Other Common Business Expenses - Insurance Payments (Health, Long Term Care, Liability Insurance). Only put it here if your business has a net taxable profit. Otherwise, report it under the Healthcare tab.

Level 15
Jun 4, 2019 7:01:06 PM

Enter it all under Business.  It will send any excess over to Schedule A.

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.