132708
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?
You'll need to sign in or create an account to connect with an expert.
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.
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.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
kare2k13
Level 4
dc-fleming62
New Member
razarimoxey14
New Member
osbuntax611
Level 1
traceylea39
New Member