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Get your taxes done using TurboTax
A sole proprietor trader reporting only expenses on Schedule C cannot take the self-employed health insurance deduction, because the health insurance deduction requires earned income. Capital gains are not considered earned income.
In order to qualify for the deduction, a day trader would have to form an entity, such as an S Corp or LLC.
This is all well explained in this web reference:
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
‎June 11, 2023
9:59 AM