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Can i deduct my monthly individual health insurance premiums being self employed
where can i enter health insurance costs to off set income being self employed
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Can i deduct my monthly individual health insurance premiums being self employed
Your self-employed health insurance will not directly affect your Schedule C income. It is entered on Line 29, 1040. It has the benefit of not having to itemize to take the deduction.
To add the self-employed health insurance to your return:
- Type self-employed health insurance deduction in the search bar.
- Click Jump to self-employed health insurance deduction.
- Continue the onscreen interview until you get to the Enter Your Business Expenses, choose Less common expenses, then choose Health Insurance Premiums.