With Covid my entertainment business showed a profit of only $700 this year. My health insurance premiums were over $13,000 for the year. Will I still be able to count them as a deduction and will it only be partial?
You would only be able to take the $700 deduction as part of the requirement for this deduction is that you have a profit.
If your insurance was through the marketplace, you could still qualify for the Premium Tax Credit.
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