Help with Self Employed Health Insurance Carry Over

[MEKetone]

Hi.  My wife and I are self employed and have an LLC.  2023 was a bad year, so my net business income was below zero, so I couldn't deduct all of our health insurance premiums.  My question is, can I carry this over to 2024 and deduct the 2023 un-deducted premiums?  For example, I paid $10,000, but could only deduct $6,000.  Can I deduct the $4,000 next year?

Thanks.

[Anonymous_]

@Critter-3 

[Critter-3]

NO

[VolvoGirl]

No.  The amount you couldn't deduct against your self employment income goes to Schedule A as a personal itemized deduction.  If you don't have enough Schedule A to deduct then it is lost.  Are you filling out Schedule Cs for each of you?  Or filing a separate LLC partnership return?   If your business had a loss then how could you deduct any of the insurance?  

[MEKetone]

Thanks for answering this for me.  Solved