TP paid health insurance premiums from HSA - now a line 21 items - SE insurance ded?

[duanecpa]

Taxpayer set up an HSA - taxpayer paid the premiums for TP health insurance directly from the HSA - remedy - include those premiums on line 21 of the Form 1040 - can those same health insurance premiums be taken as a deduction on line 29 - SE Health insurance deduction?

Please advise with citations, if possible.

Thanks for your help.

Duane

[WhiteOleander]

See page 13-31 in TTB. It looks like it is taxable and subject to 20% penalty.

[duanecpa]

SE Insurance Deduction?

Thank you for the information.

Do you happen to know if the same dollar amount - say $2,500 - which is now taxable on line 21 of the Form 1040, can also be deducted on Line 29 as Self-Employed Health Insurance Deduction since the individual is self-employed?

Thanks again.

Duane

[kathyc2]

Thank you for the information.

Do you happen to know if the same dollar amount - say $2,500 - which is now taxable on line 21 of the Form 1040, can also be deducted on Line 29 as Self-Employed Health Insurance Deduction since the individual is self-employed?

Thanks again.

Duane

Yes. As long as he meets the other requirements for claiming SEHI.