My spouse and I are retired and I'm now self-employed. We pay after-tax medical insurance premiums to my former company as an deduction from my pension. Are those premiums reported as self employment business expense? They are after-tax!
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UPDATED FOR TAX YEAR 2019
Yes. You can enter premiums paid for health insurance in your business return.
Premiums for health insurance and long-term care insurance will not show on your on Schedule C. Instead, they are shown as a deduction from your gross income on Schedule 1 of form 1040, line 16 [self-employed health insurance deduction]. [Don't worry, just enter the expenses under your business and TurboTax will take care of it!]
[Edited | 4/13/2020 | 1:27 pm PDT]
UPDATED FOR TAX YEAR 2019
Yes. You can enter premiums paid for health insurance in your business return.
Premiums for health insurance and long-term care insurance will not show on your on Schedule C. Instead, they are shown as a deduction from your gross income on Schedule 1 of form 1040, line 16 [self-employed health insurance deduction]. [Don't worry, just enter the expenses under your business and TurboTax will take care of it!]
[Edited | 4/13/2020 | 1:27 pm PDT]
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