Write-off for health insurance if self-employed?

Yagnesh_bansal

If you are self-employed, can you write off your health insurance on your taxes? What are the requirements?

Rohan864

If you are self-employed, you can deduct the cost of your health insurance premiums on your federal income tax return. Health insurance premiums are considered an "above the line" deduction, which means you can take the deduction even if you do not itemize your deductions on Schedule A of your Form 1040.

kalpit_achaya

Yes, if you are self-employed you can deduct health insurance premiums on your taxes. Health insurance is considered an "above the line" deduction, which means you can take it even if you don't itemize your deductions.

Vaani566

Yes, you can deductions for your health insurance premiums if you are self-employed. You can deduct the premiums on both your Form 1040 and your Schedule C.

smallladybug

Yes, you can write off health insurance if you are self-employed. This is because health insurance is considered a business expense. You can deduct the cost of your health insurance premium from your income, which will lower your taxable income.

organicpanda246

Yes, you may be able to write off health insurance if you are self-employed. The deductions for health insurance premiums and long-term care insurance premiums are an above-the-line deduction, which means you can claim them even if you do not itemize your deductions.