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slobdell
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W2 - Self-employed health insurance deduction?

Hello, I may find myself in the situation where I become a salaried employee for a company that does not offer health insurance.

 

This means that I will have to purchase insurance from Healthcare.gov.  Everything I see online says if you are self-employed and purchase through Healthcare.gov, you can deduct the premiums on your taxes without itemizing.  

 

Am I stuck in a niche area where I will get stuck paying full taxes on my premiums because I'm neither self-employed, nor offered insurance through my employer?

 

Thanks

 

Steve

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2 Replies

W2 - Self-employed health insurance deduction?

as an employee, except possibly as an owner-employee of an S-corporation, you can only deduct medical insurance premiums if you itemize on schedule A. 

W2 - Self-employed health insurance deduction?

You will not be eligible for the self-employment insurance deduction.  If you pay your premiums after-tax, you can take them as an itemized deduction on schedule A subject to the 7.5% threshold.  You may also be eligible for a subsidy, depending on your income. 

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