jmrule
New Member

Health insurance premium deductions as business expense

I am an employee and employer pays 75% of health insurance premium and I pay 25%. I am also an independent contractor with a separate job. May I use the health insurance premiums that I pay as a business expense?
MichaelDC
New Member

Get your taxes done using TurboTax

Most premiums are paid with pre-tax dollars, which means they are deducted from your wages before taxes are applied. Deducting them again as a self-employment expense would be "double-dipping."

You can only deduct the premiums if your employer included them in Box 1 (Gross Wages) of your W-2. However, this is highly unusual and contrary to the standard practice.

For accuracy sake, it would be best to check with your employer.



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