topic sole proprietor and health insurance deduction in Deductions & credits

sole proprietor and health insurance deduction

HangginAround — Sun, 13 Feb 2022 02:19:57 GMT

I'm a sole proprietor and I get health insurance through my husband's company. His company takes $300 out of his monthly paycheck to pay for spouse (me) health insurance and I pay my husband $300 per month. Now, can I deduct the health insurance premium given the complexity of payment? Do I use my husband's 1095A as proof in case of audit? Thank you!

Re: sole proprietor and health insurance deduction

JillS56 — Sun, 13 Feb 2022 02:38:38 GMT

No. If the health insurance policy is in your husband's name and you are listed as a spouse on the policy, you cannot take the deduction as self-employed insurance.

If your husband has a Form 1095-A and you are listed as an insured on the 1095-A, you cannot take a deduction for self-employed insurance.

If the health insurance is through your husband's company you cannot claim a deduction for self-employed health insurance.

Deducting Self-Employed Insurance

Re: sole proprietor and health insurance deduction

Mike9241 — Sun, 13 Feb 2022 05:48:14 GMT

to deduct SE health insurance the policy must be in the name of the sole proprietor or their business. also, the deduction is not allowed for any month that the self-employed individual is eligible to participate in any subsidized health plan maintained by any employer of any of the taxpayer, spouse, dependents, or child under 27

not that this changes anything but if your husband has health insurance for both of you through his employer (never heard of a situation where the employee was not covered but the spouse was. that doesn't mean it's not possible) but if both of you are covered by his policy at work, why Marketplace insurance - the 1095A

Re: sole proprietor and health insurance deduction

HangginAround — Wed, 23 Feb 2022 02:46:17 GMT

Thanks! 1095-A does list both of us.