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tmaun
New Member

I am self employed in the 2nd half of 2017 and had to buy heath insurance, where do I deduct that?

I started my own business in Oct of 2017 and my cobra insurance ran out at the end of September.  I bought health insurance from Oct 1 through Dec 31. What form do I fill out to gain the deduction for the premiums on the 1040 in turbo tax?

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IreneS
Intuit Alumni

I am self employed in the 2nd half of 2017 and had to buy heath insurance, where do I deduct that?

UPDATED FOR TAX YEAR 2019

 

To enter health insurance premiums for your business, please follow these steps:

  1. Click on the Income & Expenses tab.
  2. In the Self-Employment section click the Start/Revisit box.
  3. On the screen, Your 2019 self-employed work summary, click the Review box next to your business.  
  4. On the Here's your [business type] info screen, click the box Add expenses for this work.  
  5. On the Tell us about any expenses screen click on the down arrow next to Less common expenses to expand the list.
  6. Mark the button next to Health insurance premiums and click the Continue box. 
  7. Enter the information about the premiums on the next screen, Tell us about health insurance premiums. 

[Edited | 4/9/2020 |  10:50am PDT]

 

 

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1 Reply
IreneS
Intuit Alumni

I am self employed in the 2nd half of 2017 and had to buy heath insurance, where do I deduct that?

UPDATED FOR TAX YEAR 2019

 

To enter health insurance premiums for your business, please follow these steps:

  1. Click on the Income & Expenses tab.
  2. In the Self-Employment section click the Start/Revisit box.
  3. On the screen, Your 2019 self-employed work summary, click the Review box next to your business.  
  4. On the Here's your [business type] info screen, click the box Add expenses for this work.  
  5. On the Tell us about any expenses screen click on the down arrow next to Less common expenses to expand the list.
  6. Mark the button next to Health insurance premiums and click the Continue box. 
  7. Enter the information about the premiums on the next screen, Tell us about health insurance premiums. 

[Edited | 4/9/2020 |  10:50am PDT]

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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