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March 8, 2020
Question

If I own a LLC with no other access to health insurance and have entered my 1095-A information, where are those premiums deducted?

  • March 8, 2020
  • 1 reply
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1 reply

ColeenD3
March 8, 2020

If you are a single member with a Schedule C, then they are taken into account in the 1095-A section.

AggieHoyaAuthor
April 13, 2020

They are not being shown on the 1040 and my understanding is that self employment health insurance is above the line. 

April 13, 2020

As Coleen said, you enter your 1095-A information (do a Search (upper right) for 1095-a and click on the jump-to link), and in that interview you associate the 1095-A with your Schedule C business.

 

The amount of the premiums that you paid with after-tax dollars, if not limited, appears on line 16 of Schedule 1 (1040).

 

Note that (1) it must be premiums that you paid for with after-tax dollars, and (2) the self-employed health insurance deduction can't be larger than your net profit from that Schedule C. Also note that the line 15 amount ("Self-employed SEP, SIMPLE, and qualified plans") also interacts with line 16 and the net profit of the business, which may causes unexpected limitations to zero.

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