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erudolph71
New Member

Self employed health insurance and business expenses

 
1 Reply
NicoleU
New Member

Self employed health insurance and business expenses

When you’re self-employed, you may be able to deduct medical, dental or long-term care insurance premiums that you paid for yourself, your spouse and your dependents.

If you purchased your health insurance directly with insurance and not Obamacare

  • Go to Business
  • Click "I'll choose what I work on"
  • Business Income and Expenses
  • Business Expenses
  • Other Common Business Expenses
  • Insurance Payments
  • Health Insurance Premiums

However if you purchased your health insurance through it through Obamacare Plan (Form 1095-A)

  1. Select the Health Insurance section of TurboTax.
  2. When asked, Did you have health insurance coverage in 2016?, select either the first or second option, depending on your 2016 situation, and Continue.
  3. When asked, Was anyone enrolled in a plan from a Marketplace?, select Yes.
  4. When asked, What type of plan were you enrolled in?, select Obamacare plan (1095-A), and then Continue.
  5. Follow the prompts to enter your 1095-A.
  6. Enter your Form 1095-A
  7. When asked, Do any of these situations apply?
  8. Select Self-employed and bought a Marketplace plan.

Then you will see Which business income is tied to this policy?


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