Self employed

Yes.  Medicare plan B payments are qualified as Self-employed medical insurance premiums and should be entered under Business instead of in the SSA-1099 Social Security Benefits section.

 

Self-employed health insurance deduction goes on Form 1040 Schedule 1 line 17 (then to 1040 10), 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 and the remainder gets added in to medical expenses on Schedule A.

 

For Home & Business…..
On the Business tab Click on Business Income and Expenses Update
Click on Edit by your Business
Then under Business Expenses
Go to Other Common Expenses - Insurance Payments