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theurbanflair
Level 1

Can I deduct what I am paying through COBRA (from my father’s employer) on my self employed taxes?

Hi all,

I am 27 and self-employed running a SMLLC. Fortunately, my father’s company offered COBRA to me after turning 26 and getting the boot from their insurance.

 

Am I able to claim these expenses as my Health Insurance Premiums on my deductions? It’s unclear to me if this is acceptable and I can’t seem to find answers to this specific inquiry anywhere online. 

 

Thanks in advance!

1 Best answer

Accepted Solutions
DianeC958
Expert Alumni

Can I deduct what I am paying through COBRA (from my father’s employer) on my self employed taxes?

No, you cannot deduct the COBRA payments on your self-employed business.  For you to be able to deduct these payments on your business the insurance plan must be established, or considered to be established as in the business name or in the name of an individual.

 

 

Publication 535 Business Expenses

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2 Replies
DianeC958
Expert Alumni

Can I deduct what I am paying through COBRA (from my father’s employer) on my self employed taxes?

No, you cannot deduct the COBRA payments on your self-employed business.  For you to be able to deduct these payments on your business the insurance plan must be established, or considered to be established as in the business name or in the name of an individual.

 

 

Publication 535 Business Expenses

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

theurbanflair
Level 1

Can I deduct what I am paying through COBRA (from my father’s employer) on my self employed taxes?

Thank you @DianeC958, I appreciate the clarification!

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