If you are self-employed and eligible for the self-employed health insurance deduction, you can include your Medicare premiums in your self-employed health insurance deduction. It's a deduction on the front page of the 1040, line 29.
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). When you go through the questions for your business expenses, enter those premium expenses for self-employed health insurance premiums.
To
add the self-employed health insurance to your return:
·
Type self-employed health insurance
deduction in the search bar.
·
Click Jump to self-employed health
insurance deduction. See the screenshot below.
·
Continue the onscreen interview until you get to
the Enter Your Business Expenses, choose Self-Employed
Health Insurance Premiums. See the screenshot below.
(See
the attached screenshot below. Click to enlarge.)
Some extra info:
If you or your spouse could participate (even if you declined coverage) in an employer's health plan at any time during a given month, you can't take the deduction for that month. However, payments for those months are deductible on Schedule A if you itemize deductions.
If you don't have a profit on your Schedule C, you won't get the self-employed health insurance deduction. Remove your Medicare premiums from your Schedule C and enter them with your Social Security information. TurboTax will transfer the amounts to your Schedule A, medical expenses.
