Yes, they are deductible expenses, but only on Schedule A. You don't qualify to take the self-employment health insurance deduction.
- That deduction is generally limited to your net profit from your self-employment (or your self-employed earnings as a partner (in Box 14 of your K-1) or your paid wages as a shareholder in an S corporation).
However, you claim what you paid for those premiums on Schedule A as an itemized deduction. You have to be itemizing deductions in order to see any tax benefits from your medical deductions and only the total amount in excess of 7.5% of your AGI will be included in your itemized deductions.
Premiums for the other Medicare programs—Part B (supplemental medical insurance), Part C (Medicare Advantage), and Part D (voluntary prescription drug insurance)—are deductible. See Where do I enter my medical expenses? to enter these in TurboTax. Don't include any premiums reported on your SSA-1099 as those are already reported when you entered your social security income.
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