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sylviekr
New Member

I spent a large sum on medical malpractice insurance this year (Nearly $50K of post tax income). How do I deduct this as a professional or business expense?

 
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I spent a large sum on medical malpractice insurance this year (Nearly $50K of post tax income). How do I deduct this as a professional or business expense?

To report your malpractice insurance in TurboTax:

·       Type in schedule c in the search box, top right of your screen 

·       Hit the Enter key

·       Click jump to schedule c in the search results

·       Arrive at the Your 2017 self-employed work summary

·       Click the Edit button

·       Arrive at the Here’s your info page

·       Clock the Add expenses for this work button

·       Arrive at the Tell us about any expenses page

·       Scroll down to and click the radio button to the left of Business Insurance (5th category)

·       Click the Continue button, bottom right of the page

·       Arrive at the L et's enter the business insurance expenses for (your (business)

        Enter your business insurance expenses in the below field


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