topic Self-employed health insurance deduction for married filing jointly in Deductions & credits

Self-employed health insurance deduction for married filing jointly

newb3509 — Thu, 18 Mar 2021 05:55:12 GMT

My wife is self-employed with a CoveredCA Marketplace health insurance, and I'm retired with Medicare. As I have a Medicare plan, I do not use any CoveredCA insurance, but on Form 1095-A, I am registered as a Primary Contact for CoveredCA (as a primary tax filer), and my wife is listed as a covered recipient. So due to this, all the correspondences with CoveredCA are addressed to me. In reality, however, my wife pays the monthly premium for her CoveredCA plan.

I read that, if you are self employed and pay health insurance, you can deduct 100% of the premium cost to lower AGI in 1040. I do not participate in my wife's self-employed business, but as a married joint filer, would we be eligible for this deduction without any issues?

Thank you in advance.

Re: Self-employed health insurance deduction for married filing jointly

JohnW152 — Thu, 18 Mar 2021 14:13:26 GMT

Yes, you should be able to claim a deduction to the extent that your wife's self-employment showed a profit without any issues.

Since your wife is self-employed, you can claim a tax deduction for the health insurance paid for her, you and your dependents.

Please see the TurboTax Help article Can I deduct health insurance premiums if I’m self-employed? for more information.

Re: Self-employed health insurance deduction for married filing jointly

newb3509 — Thu, 18 Mar 2021 20:42:23 GMT

Thank you John!