Self Employed Health Ins

[gman]

Taxpayer and wife both draw social security. Taxpayer recieves 1099 for contract labor.
Could health insurance be deducted this year against self employment income. Health insurance, but no medicare premiums.?

[Burke]

SEHI is deductible as a line item on 1040 subject to worksheet as to amount allowable. This year, you can include HIS medicare prems. It is not deductible as an expense on the Sche C, but is deductible on Form SE in computing the SE tax.

[ChEAr$]

Funny thing about this. Since IRS has ruled that medicare b may be deducted as part of a health insurance plan of the business, I explained that to client who didn't know he even HAD a health insurance plan before! grin