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w_nema
March 2, 2023
Question

Can I claim insurance premiums and other medical expenses although I haven't made money as self-employed?

  • March 2, 2023
  • 1 reply
  • 0 views
I am 62 and retired but also self-employed; zero income so far.

1 reply

M
MayaD
March 2, 2023

If you are self-employed, you may be eligible to deduct premiums that you pay for medical, dental and qualifying long-term care insurance coverage for yourself, your spouse and your dependents.

However, for this year, you’re not allowed to claim the deduction because the business didn't generate any positive earned income.

 

For more information, please check: Deducting Health Insurance Premiums If You're Self-Employed

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