I'm a 80 year old retiree with monthly annuity from my former employer. My wife and I get monthly SS benefits for both my wife and myself. I also have with income from a consulting business and from renting out my farm. I've claimed as business expense - my consulting business only - our health care premiums for Medicare B.
My monthly retirement annuity is also reduced - my contribution to BCBS as our secondary health insurance coverage.
First Question: Are my BCBS premiums also deductible as a business expense?
Second Question: If the above answer is yes, does the fact that the BCBS premiums are more than the proceeds of either my farm rental income or my consulting business weigh into that?
