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My spouse is self-employed and I have a full time job that does not provide insurance. We purchase our insurance through a professional organization I am a part of (not the Marketplace), but we pay 100% of the premiums and they are not reported on my W2. We claim them as health expenses in our personal deductions section, but can we also claim them as a business expense as well on her business?
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You can’t deduct the same expenses on Sch A and as a self employed health insurance expense. That would be double dipping. Since Sch A medical deductions are limited by AGI it would probably be to your benefit to deduct the premiums for both of you as her self employed health insurance expense.
Where to enter Self Employed Health Insurance
https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-health-insurance-premi...
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.
BUT do not enter any Health Care Marketplace insurance you bought. If you enter the 1095-A and select the "Self-employed and bought a Marketplace plan" box, it will automatically include those premiums in the SE Health Insurance section. So you shouldn't enter it again on schedule C.
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