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Retirement tax questions
Oh for business that gets special treatment. You can deduct self employed health insurance directly on 1040 line 29 without going through schedule A and meeting the 10% floor.
Self-employed health insurance deduction goes on Form 1040 line 29, as long as the expense is not greater than your net self-employment income. If it does exceed your net self-employment income it gets split automatically. An amount equal to your net self-employment income goes on Form 1040 line 29, and the remainder gets added in to medical expenses on Schedule A.
Medicare plan B payments are qualified as Self-employed medical insurance premiums and should be entered under Business instead of in the Social Security Benefits entry area.
Have you filed 2016 yet? What version are you using? And Online or Desktop program? I can tell you how to enter self employment health ins.
Self-employed health insurance deduction goes on Form 1040 line 29, as long as the expense is not greater than your net self-employment income. If it does exceed your net self-employment income it gets split automatically. An amount equal to your net self-employment income goes on Form 1040 line 29, and the remainder gets added in to medical expenses on Schedule A.
Medicare plan B payments are qualified as Self-employed medical insurance premiums and should be entered under Business instead of in the Social Security Benefits entry area.
Have you filed 2016 yet? What version are you using? And Online or Desktop program? I can tell you how to enter self employment health ins.
‎June 3, 2019
10:33 AM