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.
Are political contributions tax deductible? Before signing a check, learn the difference between charitable giving and political donations at H&R Block.
If you’re itemizing deductions, the IRS generally allows you a medical expenses deduction if you have unreimbursed expenses that are more than 7.5% of your adjusted gross income for tax years 2017 or 2018. You can deduct the cost of care from several types of practitioners at various stages of care.
What happens to your taxes after marriage? Learn how marriage can lead to changes in tax filing and returns at H&R Block.
Do you have unreimbursed expenses to include on your tax return? Learn how to claim unreimbursed employee expenses with IRS Form 2106.