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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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.
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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