I am divorced with two minor children (14 &16). I claim the 14 year old as my dependent on my taxes and my ex-wife claims the other child. However, I pay for both their premiums and am self employed. My 14 year old, whom I claim on my taxers, and myself have coverage through the health insurance marketplace and get the credit based on 1095-A statement. HOW CAN I DEDUCT THE OTHER $3,284 I PAY IN HEALTH INSURANCE PREMIUMS FOR MY 16 YEAR OLD FOR WHOM I HAVE A SEPARATE POLICY OUTSIDE THE HEALTH INSURANCE MARKETPLACE? Thank you so much for the advice!
Child of divorced or separated parents. For purposes
of the medical and dental expenses deduction (including health insurance) , a child of
divorced or separated parents can be treated as a dependent of both parents. Each parent can include the
medical expenses he or she pays for the child, even if the
other parent claims the child's dependency exemption, if:
1. The child is in the custody of one or both parents for
more than half the year;
2. The child receives over half of his or her support during the year from his or her parents; and
3. The child's parents:
a. Are divorced or legally separated under a decree
of divorce or separate maintenance,
b. Are separated under a written separation agreement, or
c. Live apart at all times during the last 6 months of
This doesn't apply if the child's exemption is being
claimed under a multiple support agreement - if this applies, seems unlikely, see IRS publication 502
i see no problem in you claiming the deduction on schedule A medical expenses. however, you will get no benefit if your standard deduction exceeds your itemized deductions.
Since he/she is not your dependent, his insurance premium does not qualify for the "above the line" self employed insurance deduction. As previously indicated, the cost does qualify for Schedule A (itemized deductions).
Thank you HACKITOFF! I read the publication and feel smarter as a result. Unfortunately (or fortunately depending on how you look at it) , my medical expenses including insurance premiums for my son (whom I do not declare as a child dependent exemption), myself and my daughter (who I do declare as a child dependent exemption) only adds up to about $4500, so it is less than the standard deduction.