How to deduct health insurance premiums on schedule C when both spouses are self employed

[jf27]

Hi. I am reading that you can deduct your and your spouses health insurance and medicare premiums under schedule C. If both spouses have a schedule C, does the combined totals for both go on each schedule C,  or is it split up. I just cant get my head around it.  Instructions say you can claim spouses. So do both spouses claim the total amounts both of them paid on each schedule C?   It's different income so it might be right as different schedule C's have different incomes. Thanks

[VolvoGirl]

You need to split it up.   The part about claiming spouses is if the insurance is for both people you can put claim their part on your self employment.  But since you each have self employment you should split it up.           

And it doesn't actually go on schedule C.   Self-employed health insurance deduction goes on Schedule 1 line 17 (which goes to 1040 line 10), 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 Schedule 1 and the remainder gets added in to medical expenses on Schedule A. It will not reduce any SE Tax on a net profit. It just reduces your AGI.

Medicare plan B payments are qualified as Self-employed medical insurance premiums and should be entered under Business instead of in the SSA-1099 Social Security Benefits section.

[leeloo]

You are both self-employed with your own distinct businesses. You will include each (your own only) (her own only) health insurance deductions when you enter the information on each (your own only) (her own only) Schedule C. The insurance will show as an adjustment to income, rather than as a Schedule C expense.

Please see this link for the instructions. https://ttlc.intuit.com/turbotax-support/en-us/help-article/insurance-medical-benefits/enter-health-...