Yes, those are 100%
deductible. However, in order to enter your businesses income and expenses, you'll have to upgrade from the Turbo Tax Free Edition to the Turbo Tax Self-Employed (Home & Business) version.
Once you've upgraded, to include your
premium payments in Turbo Tax, follow these steps:
- Log into your tax return
(make sure you're in the tax return not just your account).
- Use the search box in the
upper right hand corner and type in "health insurance,
self-employed".
- Click the "Jump to
health insurance, self-employed" link that pops up.
- You will have to answer
several questions regarding your business (this will be several screens).
These questions will help Turbo Tax set-up a Business Profile for you.
- Once you've answered these
questions, Turbo Tax will begin to ask you about your income.
- Once you've entered your
income, Turbo Tax will begin to ask you about your expenses.
- Click on the Health Insurance
Premiums button then click the Continue button.
- This is where you'll enter
the actual premiums you paid in 2016 then
click the Continue button.
