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.