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Self employed health insurance deduction

I already filed.  On a complete review versus last years return, I realize I didn't capture that information (would be line 29 of 1040).  Going through turbotax, I don't see where I should be prompted for that figure (hence, why it got missed).  It is a fairly significant amount so I need to amend my return (Fed and state, NC).
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4 Replies
HelenaC
New Member

Self employed health insurance deduction

If the IRS rejects your E-Filed income tax return, you could add that to your income tax return(s). 

If the IRS "Accepts" your income tax return, you will have to amend your income tax returns. Wait for the IRS to process your income tax return before you amend it.  If you are expecting a refund, check for the status at  Where's My Refund? - It's Quick, Easy and Secure. - IRS.gov

See How do I amend my 2016 TurboTax Online return? 


Regarding your self-employed health insurance deduction:

  • TurboTax will automatically take the difference not allowed per your Schedule C and carry it to your Schedule A, Itemized Deductions.
  • TurboTax will check to see if you qualify for one or both of the deductions after you enter your premiums in the self-employed business expense section or the Health Insurance section if you received a 1095-A.


To enter self-employed Health Insurance:

  • Type self-employed health insurance deduction in the search bar.
  • Click Jump to self-employed health insurance deduction. See the screenshot below.
  • Continue the onscreen interview until you get to the Enter Your Business Expenses, choose Self-Employed Health Insurance Premiums


  
Self-employed health insurance deduction, Form 1040, line 29:

  • The deduction is generally limited to your net profit from your self-employment (or your self-employed earnings as a partner or your paid wages as a shareholder in an S corporation).
  • You can't include premiums for any month you were also eligible to participate in any subsidized health plan maintained by any employer of you, your spouse, your dependent or your child who was under age 27 at the end of the tax year.
  • Your child (under age 27 at the end of the tax year) can be included even if they aren’t your dependent.  

Medical and Dental Expenses on Schedule A, Itemized Deductions

  • Premium amount is reduced by any self-employed health insurance deduction you claimed.
  • You can't deduct insurance premiums paid with pretax or tax-free dollars.
Related Information:

 

 

jeanfrench51
Returning Member

Self employed health insurance deduction

When entering my health insurance deductions on the medical worksheet I am told not to enter premiums I paid for self-employed health insurance.  Where do I input this so that I get the deduction on Schedule 1 line 16?  

 

Thank you! I appreciate any help anyone can provide.  I file a 1040-SR.

Self employed health insurance deduction

the form that you report your business income on is the place to enter health insurance premiums. there should be a link on the form or in interview mode for self-employed health insurance - schedule C, or health insurance paid form k-1 

JohnW152
Expert Alumni

Self employed health insurance deduction

Please see the TurboTax Help article Where do I enter my health insurance premiums in TurboTax Home & Business if I'm self-employed? for guidance.

As a self-employed person, you might be able to deduct health insurance premiums for you, your spouse and dependents.

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