2006-11-15 16:11:37 · 4 answers · asked by martin h 6 in Business & Finance ➔ Taxes ➔ United States
self-employed health insurance does not get deducted on your business tax return, or schedule c. it gets deducted on your individual tax return.
you may be able to deduct health insurance you paid for yourself, your spouse, and your dependents if any of the following applies:
a) you were self-employed and had a net profit for the year
b) you received wages from an S-Corp in which you were more than a 2% shareholder
This would be deducted in full on line 29 on the face of the Form 1040 (federal tax return) as an adjustment to your AGI.
2006-11-15 19:27:29 · answer #1 · answered by tma 6 · 3⤊ 0⤋
No, the health insurance and the retirement plan contribution and one-half of your self-employment tax must go on the front of your tax return as an adjustment to income. You may not include any of these items on your schedule C.
2006-11-15 22:33:49 · answer #2 · answered by waggy_33 6 · 2⤊ 0⤋
i've got been self employed for the final 12 years, in those twelve years, i could've mandatory it as quickly as, I broke my leg, $600, they take money, $50 a month, one 3 hundred and sixty 5 days, i'm all dealt with. How plenty is an coverage fee?
2016-12-30 13:08:33 · answer #3 · answered by ? 3 · 0⤊ 0⤋
If it goes through the business yes, not their own personal health insurance.
2006-11-15 16:18:53 · answer #4 · answered by Answerer 7 · 0⤊ 3⤋