Solved: My wife and I purchased health insurance together in 2016. My wife is a self employed appraiser. Can we deduct health insurance payments as a business expense?
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My wife and I purchased health insurance together in 2016. My wife is a self employed appraiser. Can we deduct health insurance payments as a business expense?

 
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Level 9

My wife and I purchased health insurance together in 2016. My wife is a self employed appraiser. Can we deduct health insurance payments as a business expense?

Yes,

You can deduct up to 100% of health insurance premiums for you, your spouse and your dependents if you are self-employed and have a net profit from the business for which you created the plan.

Include health insurance premiums you made for your dependents who were under age 27 at the end of 2016.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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New Member

My wife and I purchased health insurance together in 2016. My wife is a self employed appraiser. Can we deduct health insurance payments as a business expense?

It's entered in TurboTax just after your business expenses. It is not reported as an expense of your business. It's a deduction from your total income which lowers your AGI. The amount will be reported on line 29 of your 1040.
Level 9

My wife and I purchased health insurance together in 2016. My wife is a self employed appraiser. Can we deduct health insurance payments as a business expense?

Yes,

You can deduct up to 100% of health insurance premiums for you, your spouse and your dependents if you are self-employed and have a net profit from the business for which you created the plan.

Include health insurance premiums you made for your dependents who were under age 27 at the end of 2016.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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