Question

As a self-employed business owner, can I deduct medical insurance premiums for my spouse and children?

Forum|Forum|6 years ago
January 14, 2020
1 reply
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TurboTax Home & Biz Windows

Probably, as long as your business has a net profit for the year. The deduction you're referring to is the Self Employment Health Insurance Deduction. See page 6 of the IRS publication linked below (Publication 535) for specific rules about the deduction.

https://www.irs.gov/pub/irs-pdf/p535.pdf

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