Premiums for health insurance and long-term care insurance are not deducted on Schedule C. Instead, they are shown as a deduction from your gross income on line 16 of Schedule 1 on form 1040 [self-employed health insurance deduction].
To enter your self-employed health insurance deduction please follow these steps:
TurboTax CD/Download
- On the Here’s your [business info screen, click on Update next to your business.
- On the screen, Your [XX] Business, in the Business Expenses section, click the Start/Update box next to Other Common Business Expenses.
- Click the Start/Update box next to Insurance Payments.
- Click the box next to the type of insurance premiums you wish to enter (in your case, Health Insurance Premiums).
Turboax Online
- Click on Income and Expenses and then click the Start/Revisit box in the Self-Employment section.
- On the Here's your [business] info screen, click on the box Add expenses for this work.
- On the Tell us about any expenses screen, scroll down through the categories, mark an appropriate radio button next to Health Insurance Premiums and click Continue at the bottom of the screen.
- Enter the total health insurance premiums paid on the next screen, Tell us about health insurance premiums…
