I'm a self employed apartment owner. I can't find a place to deduct my blue Cross health insurance premiums i pay myself

[fendmase]

I need personal help to be shown where I can deduct my health insurance premiums

[Zbucklyo · Accepted solution]

Whether you can deduct your health insurance on Line 29 of Form 1040 depends on whether your business income from the rentals is reported on Schedule C or Schedule E.  If reported on Schedule E, you won't be able to deduct the premiums, other than as an itemized deduction on Schedule A, subject to the 7.5% threshold.

[VolvoGirl]

Go to
Business tab-Continue
Choose Jump to Full List -or I'll choose what I work on

Then…..
Business Income and Expenses - Click the Start or Update button

Then click EDIT by the business name and the next screen should be a list of  topics,
Business Profile, Income, Inventory/Cost of Goods Sold, Expenses, Assets, and Final Details last.

Under Business Expenses, Click Start or Update by Other common business expenses
Then click Update by Insurance Payments
Then click Update by Health Insurance Premiums

Self-employed health insurance deduction goes on Form 1040 line 29, as long as the expense is not greater than your net self-employment income. If it does exceed your net self-employment income it gets split automatically. An amount equal to your net self-employment income goes on Form 1040 line 29, and the remainder gets added in to medical expenses on Schedule A.