Health Ins & Se

[TAX4US]

Did I get it right? No more health insurance deduction on schedule SE for 2011? Thanks

[RNuse09]

That's Correct

You can take the deduction on the sched C.

[Peachie]

That is wonderful.

You can take the deduction on the sched C.

I have just finished reading some topics here from 2011 about this very thing. I need to take a look at the newly revised schedule C. Thanks.

Peachie

[Lion]

No

No health insurance on Schedule C if for owner; that's only to deduct HI for your employees. SE HI is back to Line 29 on Form 1040 again. SI HI no longer reduces SE income on Schedule SE. That was for 2010 returns only.

[TAX4US]

I just finished reading in PUB 225 Farmers book the we cannot do what we did in 2010. Back to the old rules. I did not know if this part got into the extenders bill. Thanks

[Peachie]

Thanks Lion.

No health insurance on Schedule C if for owner; that's only to deduct HI for your employees. SE HI is back to Line 29 on Form 1040 again. SI HI no longer reduces SE income on Schedule SE. That was for 2010 returns only.

I had not gotten to read about where it would be since the extension but I wanted to see where it is on the C. No need now.

Peachie