Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 6, 2019 12:56:33 AM

Are we able to deduct our insurance premiums as a business expense for the year since my husband was self-employed for five months in 2018?

My husband has Medicare B, D and supplemental premiums.  I have an individual plan.

0 2 194
1 Best answer
Level 3
Jun 6, 2019 12:56:34 AM

Partially, you will only be able to enter them for the 5 months he was self-employed. Insurance is counted on a monthly basis so you cannot deduct it for the 7 months he was not self-employed.  

2 Replies
Level 3
Jun 6, 2019 12:56:34 AM

Partially, you will only be able to enter them for the 5 months he was self-employed. Insurance is counted on a monthly basis so you cannot deduct it for the 7 months he was not self-employed.  

New Member
Jun 6, 2019 12:56:35 AM

That would seem logical, but I cannot find any publication that actually says you should deduct premiums only for the months in which your self-employment had income.  I also could not find in Turbo Tax anywhere that asked for the number of months with income or anywhere on Schedule C either. Could you send your source for this answer so I can put it in my tax file?