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For self employed, where is medical insurance claimed?
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For self employed, where is medical insurance claimed?
For the health insurance premiums, you can deduct up to 100% of the premiums for you, your spouse, and your dependents if your work shows a net profit. The premiums will appear on Line 29 of your Form 1040. Any payments that exceed your net business income will flow over to Schedule A as a personal medical expense. We'll automatically handle the line items and calculations for you.
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.
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