Deducting Life/Health Insurance

JoeMal — Tue, 10 Feb 2026 10:33:04 GMT

As a sole proprietor, can i deduct life and health insurance cost?

Re: Deducting Life/Health Insurance

MinhT1 — Wed, 28 Feb 2024 17:18:43 GMT

Yes, as a sole proprietor, you can deduct your health insurance premiums. Life insurance isn't deductible.

The health insurance policy must be either in the name of the business or in your own name.

In TurboTax Premium Online, you enter your health insurance premiums in the Business Expenses section of your business.

The deduction is limited to the amount of net income (profit) of your business.

Go to Business Expenses > Other Common Business Expenses > Health Insurance Premiums.

TurboTax will transfer the amount to Part II line 17 of Schedule 1 of form 1040 (self-employed health insurance deduction).