Yes - You can enter the premiums paid Medicare B and the supplement as self-employed health insurance premiums. [It will show as a deduction on Schedule 1 of Form 1040, line 16.]
If you want these premiums to be part of the self-employed health insurance deduction, do not enter your Medicare premiums when entering the information from your SSA-1099 (Social Security Benefits). When you go through the questions for your business expenses, enter those premium expenses for self-employed health insurance premiums.
To enter the Medicare premiums, please follow these steps:
- On the Your 20XX self-employed work summary screen, click on Edit next to your business.
- On the Here's your [business] info screen, click on the box Add expenses for this work.
- On the Tell us about any expenses screen, scroll down to Less Common Expenses, mark the radio button for Health insurance premiums and click Continue at the bottom of the screen.
- Enter the amount and description on the next page. If you need more than one entry, click on Add another row.
NOTE:
It's OK that you had a loss for 2018 and 2019. An activity is presumed to be a for-profit business if gross income exceeds deductions for three or more out of five consecutive years.
[Edited | 4/15/2020 | 8:10am PDT]
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