I have a question about Schedule C health insurance issues. I opted out of my employer’s health insurance plan. Regarding Schedule C deductions, can I deduct the health insurance premiums my wife and I pay on my wife’s Schedule C?
No. If you or your spouse is eligible for coverage under an employer plan, you can’t claim the self-employed Schedule C health insurance deduction. However, you can claim the payments as itemized deductions on Schedule A.
Changing jobs can come with tax implications like job search and moving expense deductions. Learn more about these potential benefits at H&R Block.
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