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Employee
June 1, 2019
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As a self employed, federal retiree, can I deduct health insurance premiums as a business expense?

  • June 1, 2019
  • 1 reply
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    Best answer by DoninGA

    Self employed health care premiums paid with out of pocket funds are reported as adjustment to income on Form 1040 Line 29.  You must have a net profit from your self employment for the health care premiums to be deducted.

    To enter the premiums paid for self employment health insurance see this TurboTax support FAQ - https://ttlc.intuit.com/questions/2579294-where-do-i-enter-my-health-insurance-premiums-if-i-m-self-...

    Also see this TurboTax support FAQ - https://ttlc.intuit.com/questions/3355972-can-i-deduct-my-medicare-premiums-as-self-employed-health-...

    1 reply

    DoninGA
    DoninGAAnswer
    Employee
    June 1, 2019

    Self employed health care premiums paid with out of pocket funds are reported as adjustment to income on Form 1040 Line 29.  You must have a net profit from your self employment for the health care premiums to be deducted.

    To enter the premiums paid for self employment health insurance see this TurboTax support FAQ - https://ttlc.intuit.com/questions/2579294-where-do-i-enter-my-health-insurance-premiums-if-i-m-self-...

    Also see this TurboTax support FAQ - https://ttlc.intuit.com/questions/3355972-can-i-deduct-my-medicare-premiums-as-self-employed-health-...