business deduction

Forum|Forum|3 years ago
April 16, 2023
1 reply
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I entered health insurance premiums for a business expense for schedule C. It did not show up on line 14 of Schedule C. Why??? Unfortunately I didn't see it until after I efiled so now I have to amend the return. But I need to know why it did not show up in the first place because the input still shows that it was entered in the correct spot for input. Somehow the premiums ended up on the itemized deduction schedule where they didn't meet the threshold.

AliciaP1

Health Insurance premiums paid for yourself do not go on Schedule C. They are used for the self-employed health insurance deduction on line 17 of Form 1040 Schedule 1 and is allowable up to the amount of your net income. If your Schedule C net income was already 0 or negative, the deduction is disallowed and the premium amounts would have been moved to your Schedule A Itemized Deductions.

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