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D
DeeStall
January 9, 2023
Question

Medical Loss Ratio Rebate for Sole Proprietor

  • January 9, 2023
  • 1 reply
  • 0 views

Received a Medical Loss Ratio Rebate check on September 2, 2022 from Healthkeepers, Inc for 2021.  I file as a sole proprietor and claimed the health insurance payments as a business deduction for 2021.  How do I enter this rebate on my 2022 tax return, as personal or business income?  And where do I enter it?

    1 reply

    M
    mglauner
    January 9, 2023

    You could enter it as Miscellaneous Business Income and indicate that it was a health insurance premium rebate, since you did deduct the premiums you paid.

     

     

     

     

      D
      DeeStallAuthor
      January 10, 2023

      Thank you.  

      I also have a question regarding dental insurance bought through the marketplace.  Can I deduct the monthly premium costs under schedule c health insurance premiums?  I did not get a 1099a from healthkeepers because this is considered a stand alone policy.

      CatinaT1
      CatinaT1
      January 10, 2023

      Maybe. Were either you or your spouse eligible to participate in an employer-subsidized health plan?

       

      If not, you are eligible to take the Self Employed Health Insurance deduction for dental insurance premiums paid out of pocket.

       

      You can find more information here: Deducting Health Insurance Premiums If You're Self-Employed

       

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