Self employed

For  self-employed health insurance premiums, follow these steps to enter them in the Home & Business version:

1. With your return open, search for business expenses inside your TurboTax Home & Business program
2. Select the jump-to link at the top of your search results
3. On the First, select the expenses you know you had screen, select Edit next to your business
4. Select Start or Update next to Other Common Business Expenses
5. On the Let's write off some business expenses screen, select Start or Update next to Long-term care insurance

Additional Information for Self Employed Insurance

If you are self-employed, you may be eligible to deduct premiums that you pay for medical, dental and qualifying long-term care insurance coverage for yourself, your spouse and your dependents.

• This health insurance write-off is entered on Part II of Schedule 1 as an adjustment to income and transferred to page 1 of Form 1040, which means you benefit whether or not you itemize your deductions.
• Unlike an itemized deduction, this deduction treatment is beneficial because it lowers your adjusted gross income (AGI).
• Having lower AGI can reduce the odds that you’ll be affected by unfavorable phase-out rules that can cut back or eliminate various tax breaks.