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Deductions & credits
Health insurance premiums for a self-employed person would include your spouse and would be deductible using the self-employed health insurance deduction. You will see that in the business section of TurboTax under the Less Common Business Situations menu and then Self-employed Health Insurance. You will see this when you enter the business section on the page that says Let's gather your business info.
Life insurance would not likely be deductible if you were the beneficiary. Also, you would have to pay a wage to your spouse and report that on a W-2 form and have a group life insurance policy for it to be deductible.
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‎January 23, 2024
7:19 PM