I have medical insurance (family) via retiree plan associated with former employment. I am now self employed and want to know if the medical premiums paid are deductible?
My retiree medical plan has medical, dental, vision, and prescription benefits for my entire family. When going thru expenses in the business section of Turbo Tax it has section for medical premiums. Following retirement, I started self employed consulting in a foreign country. I had this medical insurance prior to my self employed consulting work beginning, but have maintained throughout my continued self employment. I would like the answer to whether I can deduct the premiums I currently pay out of pocket for this medical coverage as part of the business expenses or this would be something I need to consider for a personal deduction (schedule A).