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lynviator
New Member

Self-Employed Health Insurance Deduction

I had 2 jobs in 2016.  One of them I was an employee and received a W-2.  The other I was self-employed and received a 1099.  Neither of the 2 jobs offered health insurance so I had my own private policy.  My employee wages (W-2 wages) was 85% of my total income and my self-employed income (1099 income) was 15% of my total income.  Can I deduct 100% of the premiums on Form 1040 line 29 as Self-Employed health insurance deduction since neither employer offered health insurance?  Or can I only deduct 15% of the premiums (the self-employed portion of my income)?
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3 Replies
Coleen3
Intuit Alumni

Self-Employed Health Insurance Deduction

You can deduct 100% of your premiums but you are limited but the profit on your Schedule C.

lynviator
New Member

Self-Employed Health Insurance Deduction

Is there a formula for that?
Coleen3
Intuit Alumni

Self-Employed Health Insurance Deduction

No, just enter your premiums. The program will calculate your profit and adjust your premium amount accordingly.
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