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Deducting Medical Insurance Premiums as a Sole Proprietor
I have always been covered by my spouse's employer-subsidized medical plan. They are retiring and we will pay full premiums for COBRA for November and December 2024, then enroll in an Exchange plan for 2025 (we are not old enough for Medicare). Can I deduct these 2 months of premiums as a business expense when filing our joint 2024 return? For 2025, would premiums be deductible?
May 22, 2024
10:20 AM