I am self employed. I paid out of pocket health insurance premiums for myself, my spouse and my dependents in a plan outside of my business. Where would I enter these?

[MichaelDC · Accepted solution]

Any Health Insurance Marketplace premiums you paid will be reported on Form 1095-A, which you should get by mid-February. Once you have it, simply follow these directions to enter your 1095-A in TurboTax.

If you paid COBRA premiums, and the policy is in a former employer's name, enter it as a personal medical expense (on the Enter Insurance Premiums screen which is near the end of the medical expenses interview).

For all other self-employed health insurance premiums, follow these steps. You'll need to be in the TurboTax Self-Employed or Home & Business version:

1.       Open your return and click the Business tab.

2.       Continue to How do you want to enter your business income? and click I'll choose what I work on.

3.       Scroll down to Self-employed Health Insurance (under the Less Common Business Situations heading) and click Start.

As a self-employed person, you're allowed to deduct premiums up to the amount of your net business income; 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.