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How do I enter health insurance costs when I was self-employed for half of 2016?

I was self-employed for half of 2016.  After that, my status changed to retired.  I paid for health insurance the entire year.  For my self-employed health insurance deduction, do I enter half of my cost for the year (the portion of time I was self-employed)?

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Accepted Solutions
Coleen3
Intuit Alumni

How do I enter health insurance costs when I was self-employed for half of 2016?

Enter your health insurance payments as you normally do. The benefit of deducting it on the 1040 rather than Schedule A, Itemized Deductions. Her is a link to the IRS with details about who can deduct.

https://www.irs.gov/uac/newsroom/dont-miss-the-health-insurance-deduction-if-youre-self-employed

Follow these steps to enter:

  • Type self-employed health insurance deduction in the search bar.
  • Click Jump to self-employed health insurance deduction
  • Continue until you get to the Enter Your Business Expenses, choose Self-Employed Health Insurance Premiums

 

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1 Reply
Coleen3
Intuit Alumni

How do I enter health insurance costs when I was self-employed for half of 2016?

Enter your health insurance payments as you normally do. The benefit of deducting it on the 1040 rather than Schedule A, Itemized Deductions. Her is a link to the IRS with details about who can deduct.

https://www.irs.gov/uac/newsroom/dont-miss-the-health-insurance-deduction-if-youre-self-employed

Follow these steps to enter:

  • Type self-employed health insurance deduction in the search bar.
  • Click Jump to self-employed health insurance deduction
  • Continue until you get to the Enter Your Business Expenses, choose Self-Employed Health Insurance Premiums

 

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