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duckhunter
Returning Member

Single LLC Health Care Premium deduction

Where do input my health care premium to deduct it. I am a LLC, But I also work a parttime job. I cant find where to add it. I only received a 1095B.

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5 Replies
DavidD66
Expert Alumni

Single LLC Health Care Premium deduction

If you have a single member LLC, then the IRS considers your LLC a Disregarded Entity for tax purposes.  This just means you are self-employed.  Since you are self-employed, you can deduct your health insurance premiums.  To deduct your health insurance premiums, while logged in to your account,

  • Click on Federal
  • Click on Income & Expenses
  • Click on Self-employment income and expenses
  • Continue through the interview until you get to the page with "What kind of expenses did you have for nonemployee compensation?"
  • Click to expand "Less common expenses"
  • Scroll down to "Health Insurance premiums" and check the box, then click on Continue
  • Continue through the Health Insurance questions to report/deduct your premiums

 

 

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duckhunter
Returning Member

Single LLC Health Care Premium deduction

It doesnt allow me to it say to put it in another spot.

ColeenD3
Expert Alumni

Single LLC Health Care Premium deduction

Go back to that section. See the screen shots below.

 

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liensuyi
Returning Member

Single LLC Health Care Premium deduction

If my spouse paid for health insurance for himself and our children using our money, is it deductible for a single member LLC? We filed jointly.

DavidD66
Expert Alumni

Single LLC Health Care Premium deduction

Perhaps.  Please see the following TurboTax Help article on: Can I deduct my health insurance premiums when I’m self-employed?

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