- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Where do I enter info for self employment health insurance applicable to Schedule C?
Topics:
2 Replies
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Where do I enter info for self employment health insurance applicable to Schedule C?
- You’ll enter the premiums as a business expense, under Income & Expenses.
- Type “Schedule C” in the Search box and then select the “Jump to” link.
- Now go to Health insurance premiums under the Less Common Expenses section. Note: If this is your first time entering info about your self-employment work, you’ll be asked some initial questions before coming to the expenses section. If you previously entered info on your self-employment work, you can pick up from there - just click Edit next to the type of work you entered previously, and then scroll down to the Expenses section.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Where do I enter info for self employment health insurance applicable to Schedule C?
Self Employed health Insurance does not go directly on Schedule C so it will not reduce your Net Profit or self employment tax.
If your health ins exceeds your net self-employment income it gets split. An amount equal to your net self-employment income goes on Form 1040 Schedule 1 line 16 and the remainder gets added in to medical expenses on Schedule A.
Where to enter Self Employed Health Ins
Can I deduct health ins when Self Employed?
Deducting Health Ins If you are Self Employed
Still have questions?
Make a post
Or browse the Forums