Where to enter medicare b premiums if self employed

[cpacwk47]

Where can you enter Medicare Premiums to deduct as self employed health insurance, and do you then not enter them on the SS Income Page?

[IreneS · Accepted solution]

UPDATED FOR TAX YEAR 2019

Yes - You can enter the Medicare B premiums as self-employed health insurance premiums.  [It will show as a deduction on Schedule 1 of Form 1040, line 16.]

If you want these premiums to be part of the self-employed health insurance deduction, do not enter your Medicare premiums when entering the information from your SSA-1099 (Social Security Benefits). When you go through the questions for your business expenses, enter those premium expenses for self-employed health insurance premiums.

To enter the Medicare premiums, please follow these steps:

1. On the Your 20XX self-employed work summary screen, click on Edit next to your business. 
2. On the Here's your [business] info screen, click on the box Add expenses for this work. 
3. On the Tell us about any expenses screen, scroll down to Less Common Expenses, mark the radio button for Health insurance premiums and click Continue at the bottom of the screen.   
4. Enter the amount and description on the next page.  If you need more than one entry, click on Add another row. 

[Edited | 4/8/2020 |  12:01pm PDT]

[LSchaper]

Where are medicare Parts b&d entered, if self employed?

[Vanessa A]

If you are self-employed you will enter your Medicare B & D by doing the following:  

• Click Income and Expenses
• Click Review next to Self-Employment Income and expenses
• Click Review next to your business
• Click add next to Health Insurance Premiums.  You may have to scroll down and click show more a few times.
• Click continue a few times, then you will come to a list of expenses that you can enter.  Click Start or edit next to Health Insurance Premiums then walk through the steps to enter your premiums.  This will enter your deductible Medicare premiums on line 17 of Schedule 1.

You can claim this deduction if you have a profit in your business.  This is not a refundable credit.