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Ange23
March 23, 2021
Question

Where do I enter Small Business Health Insurance Deduction information (Form 4020)?

  • March 23, 2021
  • 1 reply
  • 0 views
My husband works for a small independently owned company and I have a Form 4020 from the Alabama Department of Revenue. I have no clue where to enter the deduction.

1 reply

M
MinhT1
March 23, 2021

This form reports the Self-Employed Health Insurance which is deductible for self-employed individuals.

 

In TurboTax Self-Employed, you enter your health insurance premiums in the Business Expenses section of your business.

 

The deduction is limited to the amount of net income (profit) of your business.

 

Go to Business Expenses > Other Common Business Expenses > Health Insurance Premiums.

 

TurboTax will transfer the amount to Part II line 16 of Schedule 1 of form 1040 (self-employed health insurance deduction).

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