My husband and I will be filing jointly and claiming his son this year as TX residence. We are self employed and run the company together. We both also carry separate jobs that do not offer health insurance plans. He pays health insurance premiums out of pocket for both he and his son as well as other health expenses not covered by the plan. I do not have a plan at all.
We plan on filing a Schedule C for the company. Can we deduct his out of pocket premium expenses and other medical expenses incurred on the Schedule C? If so, should we add it as an owner deposit, then deduct it? Or simply deduct it as a company expense? Any other suggestions would help as I'm sure I'm not realizing every option.
