How do you enter self-employed health insurance deduction on Line 29 with Turbo Tax Home & Business?

[MinhT · Accepted solution]

In TurboTax, you enter your self-employed health insurance premiums in the Business Expenses section of your business.

The deduction is limited to the amount of net income (profit) of your business.

Go to Business Expenses > Other Common Business Expenses > Health Insurance Premiums.

TurboTax will transfer the amount to line 29 of Schedule 1 of form 1040.

[VolvoGirl]

Go to
Business tab-Continue
Choose Jump to Full List -or I'll choose what I work on

Then…..
Business Income and Expenses - Click the Start or Update button

Then click EDIT by the business name and the next screen should be a list of  topics,
Business Profile, Income, Inventory/Cost of Goods Sold, Expenses, Assets, and Final Details last.

Under Business Expenses, Click Start or Update by Other common business expenses
Then click Update by Insurance Payments
Then click Update by Health Insurance Premiums

Self-employed health insurance deduction goes on Form 1040 Schedule 1 line 29, as long as the expense is not greater than your net self-employment income. If it does exceed your net self-employment income it gets split automatically. An amount equal to your net self-employment income goes on Form 1040 schedule 1 line 29, and the remainder gets added in to medical expenses on Schedule A.