Can you take a health insurance for self-employed individuals in this case? You have a job making say 50k a year. It provides no health insurance. You buy your own insurance for $400 a month. You have a Schedule C business that makes $1200 a year, paid in one lump sum. That averages to $100 a month. Can you take a deduction for the SE health insurance deduction on page 1 of 1040 to the tune of $1200? It's as if you're taking a deduction for 3 months of health insurance through your Schedule C business.
- posted
13 years ago