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There’s nothing convoluted about deducting health insurance and dental premiums if you are self employed. Money you pay for health and dental insurance is coun
by zaroth 8y ago
There’s nothing convoluted about deducting health insurance and dental premiums if you are self employed.
Money you pay for health and dental insurance is counted as a reduction against your AGI — technically this is even better than a deduction, as long as you don’t qualify for insurance through another employer, and cannot exceed your total employment earnings. So you can’t decline employee sponsored health insurance and also claim the reduction, and you can’t deduct premiums to the point where you have a net loss.
Qualified expenses go on Line 29 of Form 1040 where it says “Self-employed health insurance deduction”.
You do not have to incorporate or setup an LLC to claim the deduction.