COBRA payments - treatment on 2024 return as sole proprietor (schedule C)

[ceunmeesuh]

For a portion of 2024, I was a fractional W2 worker and took advantage of benefits. I am paying COBRA to remain on a rich health insurance plan, but no longer W2 employee.  How do I treat the COBRA payments for my 2024 sole proprietor (Schedule C) return?

[Loretta P]

Hello @ceunmeesuh, 

As the IRS requires the insurance plan be under your name or the name of your business, you are not able to deduct COBRA payments on the Schedule C.  COBRA premiums can be deducted as a Medial Expense on Schedule A if you are able to itemize your deductions.  

Helpful Links:

Where do I enter my health insurance premiums if I'm self-employed?