Self-Employed Health Insurance
Can self-employed people deduct health insurance?
Self-employed people can deduct 100% of health insurance premiums for themselves, their spouse, and their dependents from their taxable income. The deduction is taken on Schedule 1 of Form 1040. The deduction cannot exceed the net profit from self-employment.
Key Points
- Self-employed health insurance deduction: 100% of premiums
- Applies to: self-employed person, spouse, and dependents
- Taken on Schedule 1 of Form 1040
- Cannot exceed net profit from self-employment
- An independent agent can help you find the best health insurance for self-employed people