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June 24, 2020
Question

self employed helth inurance premiums

  • June 24, 2020
  • 1 reply
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Where in TurboTax do I deduct the health care premiums for self employed?

    1 reply

    VolvoGirl
    Employee
    June 24, 2020

    Self-employed health insurance deduction goes on Form 1040 Schedule 1 line 16, as long as the expense is not greater than your self-employment Schedule C Net Profit minus the deductible part of the SE tax (from Schedule 1 line 14) and any business retirement plan contributions on line 15.


    Then schedule 1 line 22 Adjustments to Income goes to 1040 line 8a.


    If it does exceed your net self-employment income it gets split automatically. An amount equal to your net self-employment income goes on Form 1040 Schedule 1, and the remainder gets added in to medical expenses on Schedule A.


    Where to enter self employed self employed health ins
    https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-health-insurance-premiums-if-i-m-self-employed/00/27111