Vanessa A
Expert Alumni

Deductions & credits

Employer sponsored healthcare would be benefits through the company that the employer pays any part of.  If the employer is paying even the smallest amount, it would be considered employer sponsored health care. 

If the employer does not contribute anything at all to the premiums for you and your child, then you would be able to get insurance through the marketplace and take the premiums as a deduction.

The Self-Employed Health Insurance deduction is limited to your earnings.  Meaning, you cannot deduct more than you earned. So, if you do not make a profit in your first year or two, you would not get any benefit from your premium payments. 

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