I have a question about health insurance tax deductions. If I was self-employed for only a few months, can I deduct health insurance premiums I paid all year long?
Maybe. Health insurance tax deductions may be taken under certain circumstances.
You can deduct health insurance premiums that you paid as a self-employed health insurance premium only for the period you:
- Were self-employed
- Weren’t eligible for employer-subsidized health coverage through your or your spouse’s employer
You can claim the health insurance premiums you paid when you weren’t self-employed if both of these apply:
- You itemize your deductions.
- Your expenses are more than 7.5% of your adjusted gross income (AGI).
Related Resources
Due to tax law changes, we know it can be difficult to estimate your refund or balance due. H&R Block experts outline how the changes are reflected in our tax reform calculator.
Was your IRS extension request rejected? Find out what your next steps are when it comes to filing for an extension with the help of H&R Block
Looking for information on Alabama state income tax? Read here to find out who pays, how to pay and more from the tax pros at H&R Block.
Learn more about the child care tax credit and the dependent care credit from the tax experts at H&R Block.
