turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Can I deduct the funds I spend on a Christian Healthcare Shared plan premium as a health insurance deduction as a sole proprietor?

I have a plan through Christian Healthcare Ministries. I want to know if I can deduct the costs as a health insurance expense deduction.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

Can I deduct the funds I spend on a Christian Healthcare Shared plan premium as a health insurance deduction as a sole proprietor?

Maybe???

 

Before a couple of months ago, the answer was "no".  But a couple of months ago the IRS/Treasury released some PROPOSED Regulations that state for purposes of a Medical Deduction, Heathcare Ministries can now count as insurance.

 

But two cautions:  (1) It is only a PROPOSED Regulation.  It does have some authority, but the IRS is not bound by it and (2) The Regulation says it is insurance for Section 213 of the Tax Code, but does NOT address the Self Employed Health Insurance deduction.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies