Is medicare part b payment deductible for self-employed senior and where to enter?

[Burt38]

 Entered health ins premiums on line 15 Schedule C and in 1040, line 29 form, but does not appear in line 29?

[Rachel_W]

The health ins premiums should not appear on Line 15 of Schedule C.  It should be reported on Schedule 1, Line 29.  I will Edit the answer to give you more guidance on where to enter.

[Rachel_W]

@Burt38 See Step by step instructions in edited answer below and comment if this does (or doesn't) work for you.

[Burt38]

Followed directions, still no line 29 entry

[Rachel_W · Accepted solution]

Yes, as a self-employed senior you may deduct your Medicare Part B payments on your Schedule C.  To do so in TurboTax Desktop, follow these instructions:

• Open up your return

• Enter "health insurance premiums paid, self-employed" in the Search box located in the upper right of your screen

• Click on “Jump to health insurance premiums paid, self-employed” link

•  Answer the screen prompt interview questions.

Note: 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).

Edited to add step by step instructions: 

• Open your return
• Under the Wages & Income section, click "Update" next to "Business Income & Expenses "Schedule C"
• Click "Edit" next to your business
• Walk through the TurboTax interview questions until you get to expenses
• Click "Update" next to "All Other Expenses"
• Input Self-Employed Health Insurance Premiums (It is the 6th Expense down)

Your Self-Employed Health Insurance Premiums should be shown on Line 29 of Schedule 1.  The amount should not be reported on Line 15 of Schedule C.

[Edited 02.04.2019| 3:20PM]

[Burt38]

Followed step by step - no amount in line 29 1040

[Rachel_W]

@Burt38 Do you have a loss on your Schedule C?