MarilynG1
Expert Alumni

Self employed

You can generally deduct the total amount paid for health insurance coverage for you, your spouse, and your dependents (including children under age 27 at the end of 2024).

 

For self employed health ins do not enter any Health Care Marketplace insurance you bought.  If you enter the 1095-A and select the "Self-employed and bought a Marketplace plan" box, it will automatically include those premiums in the SE Health Insurance section.  So you shouldn't enter it again on schedule C.

 

Self-employed health insurance deduction goes on Form 1040 schedule 1 line 17, 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 Schedule 1 line 17,  and the remainder gets added in to medical expenses on Schedule A.

 

Enter your 1095-A as shown on the form if your child is included on your tax return.  

 

Here's more info on How to Enter Self Employed Health Insurance and How to Enter Form 1095-A

 

 

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