Solved: 64 with SS$, work 2 part-time jobs. Received 1099-Misc (self employed). Is it acceptable to net health premiums against self employed $? I know how, but is acceptable?
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64 with SS$, work 2 part-time jobs. Received 1099-Misc (self employed). Is it acceptable to net health premiums against self employed $? I know how, but is acceptable?

I file a Schedule C.  I know how to do this but I don’t know if it’s allowed.  My health insurance is in my name, not a business name because not required to have a business name.  Can I just say that the health insurance expense applies to this self employed business revenue and do the netting even though the health insurance also covers my non self-employed income also?

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Level 9

64 with SS$, work 2 part-time jobs. Received 1099-Misc (self employed). Is it acceptable to net health premiums against self employed $? I know how, but is acceptable?

Yes, it is acceptable as long as the premiums are being paid with after-tax dollars and not pre-tax dollars. If you are paying for the premiums out of your own pocket, then you can report them as the self-employed health insurance on your return. 

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Level 9

64 with SS$, work 2 part-time jobs. Received 1099-Misc (self employed). Is it acceptable to net health premiums against self employed $? I know how, but is acceptable?

Yes, it is acceptable as long as the premiums are being paid with after-tax dollars and not pre-tax dollars. If you are paying for the premiums out of your own pocket, then you can report them as the self-employed health insurance on your return. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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