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 10% of your adjusted gross income (AGI).
Related Resources
Learn how to deduct student loan interest with H&R Block. Get information about qualified education expenses and see if a student loan tax deduction applies to you.
Tax season is right around the corner! Consider how the withholding allowances claimed on your Form W-4 could affect your income tax refund by visiting the Tax Information Center blog.
Do you have unreimbursed expenses to include on your tax return? Learn how to claim unreimbursed employee expenses with IRS Form 2106.
Are political contributions tax deductible? Before signing a check, learn the difference between charitable giving and political donations at H&R Block.
