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If I have two part time self employed sources of income, do I divide my health insurance in half or put it all on the Schedule C that has the most income?

 
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If I have two part time self employed sources of income, do I divide my health insurance in half or put it all on the Schedule C that has the most income?

Self-employed health insurance deduction goes on Form 1040 Schedule 1 line 16, as long as the expense is not greater than your Net Profit on schedule C individually. If the Insurance is more than your Net Profit on each of your Schedule Cs you can split it up and enter it on each schedule C so you don't go over the net profit on either one.

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If I have two part time self employed sources of income, do I divide my health insurance in half or put it all on the Schedule C that has the most income?

Self-employed health insurance deduction goes on Form 1040 Schedule 1 line 16, as long as the expense is not greater than your Net Profit on schedule C individually. If the Insurance is more than your Net Profit on each of your Schedule Cs you can split it up and enter it on each schedule C so you don't go over the net profit on either one.

If I have two part time self employed sources of income, do I divide my health insurance in half or put it all on the Schedule C that has the most income?

Thank you very much for the response, Volvo girl.

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