It is not a new thing. Since you self-employed, you are also permitted to deduct your portion of the health insurance premiums (total premium minus the premium tax credit you are permitted) as a business expense. If the following applies to your previous year's taxes, you should review them and ensure you received the deduction. If you didn't, you can amend your returns. The question to link to your self-employment income has been there for years, so double-check your returns. You may have taken the deduction or you have not qualified to take the deduction.
If you reported self-employment income on any of the schedules listed below AND you used that income to buy health insurance through Healthcare.gov or your state Marketplace, you can deduct your premiums on your taxes. However, you need to tie that income to your 1095-A so we can properly calculate the deduction amount.
- Schedule C - Self-employed business income
- Schedule F - Farm income
- Schedule K-1 partnership - This only counts if you earned self-employment income from that partnership, which means you would have an entry on Line 14 of your K-1 from that partnership.
- Schedule K-1 S corporation - This only counts if you have a W-2 from the S corporation and are an owner with more than 2% interest in the S corporation.
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