I own a business, can I deduct under Misc. Deductions medical Insurance,
such as Medicare Part A or B or Medicare supplement insurance, or can these only be deducted on schedule A as a personal deduction?
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They can be included under self-employed health insurance but they will not be entered on Schedule C. It will appear on Line 29 1040. On the Social Security screen, do not include your Medicare deduction there. Input it under insurance as an expense under self-employment and the program will carry it to the correct place.
They can be included under self-employed health insurance but they will not be entered on Schedule C. It will appear on Line 29 1040. On the Social Security screen, do not include your Medicare deduction there. Input it under insurance as an expense under self-employment and the program will carry it to the correct place.
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