Can I use these health insurance premiums as business expenses?

[jamcat08]

I have a small business that will show a profit in 2016. I also receive social security and have just started on medicare. Part of the year I had private insurance, for another part of the year I paid to be on my wife's employee plan. For one month I paid for a medicare supplement and for part D. Can any or all of these health insurance premiums be used as business expenses??

[MinhT · Accepted solution]

You can only deduct self-employed health insurance if the policy is in your name or the business' name. Your private insurance premiums and your part B and D Medicare supplement count, but your wife's employee plan does not count.

Please read this IRS document for more information:

https://www.irs.gov/uac/newsroom/dont-miss-the-health-insurance-deduction-if-youre-self-employed

[jamcat08]

Thank you.  Exactly what I needed.