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I was self employed for 6 months in 2016, can I deduct all of my 2016 health insurance?

In 2016 I divorced and started purchasing health insurance on my own in March.  At that time i was self employed.  In July I became an employee with the same company and continued to purchase my own health insurance.  Can I deduct all of my health insurance premiums for  2016?

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Accepted Solutions
LinaJ2018
Intuit Alumni

I was self employed for 6 months in 2016, can I deduct all of my 2016 health insurance?

When you were self-employed and not eligible for an employer-sponsored health plan through your spouse, you will be able to write off your health insurance premiums.  You can't write off more in health insurance premiums than you earned, though. 

When you were an employee, if you paid your health insurance premiums with your own after-tax money, it might be tax deductible.  Add up your health insurance premiums with other qualified unreimbursed medical expenses, if all of those together are greater than 10 percent of your adjusted gross income, you can deduct the part that exceeds 10 percent of your income, 7.5 percent for seniors age 65 and older.

When you were an employee, if you paid your health insurance premiums with pre-tax money through your employer, no deduction is allowed

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1 Reply
LinaJ2018
Intuit Alumni

I was self employed for 6 months in 2016, can I deduct all of my 2016 health insurance?

When you were self-employed and not eligible for an employer-sponsored health plan through your spouse, you will be able to write off your health insurance premiums.  You can't write off more in health insurance premiums than you earned, though. 

When you were an employee, if you paid your health insurance premiums with your own after-tax money, it might be tax deductible.  Add up your health insurance premiums with other qualified unreimbursed medical expenses, if all of those together are greater than 10 percent of your adjusted gross income, you can deduct the part that exceeds 10 percent of your income, 7.5 percent for seniors age 65 and older.

When you were an employee, if you paid your health insurance premiums with pre-tax money through your employer, no deduction is allowed

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