Can I deduct my premiums if I’m self-employed and bought health insurance through the Marketplace?

Can I deduct my premiums if I’m self-employed and bought health insurance through the Marketplace?

If you reported self-employment income on any of the schedules listed below and you used that income to buy health insurance through Healthcare.gov or your state Marketplace, you can deduct your premiums on your taxes. However, you need to tie that income to your 1095-A so we can properly calculate the deduction amount.

• Schedule C – Self-employed business income
• Schedule F – Farm income
• Schedule K-1 partnership – This only counts if you earned self-employment income from that partnership, which means you would have an entry on Line 14 of your K-1 from that partnership.
• Schedule K-1 S corporation – This only counts if you have a W-2 from that S corporation and are an owner with more than 2% interest in the S corporation.
• Example : Toni owns a house painting business and reports the income she earns from it on a Schedule C (self-employed business income). She's allowed to take the amount she pays for her health insurance premiums as a tax deduction. Toni bought her health insurance for 2019 through the Marketplace. To figure out how much self-employed health insurance premium is deductible, Toni ties the appropriate 1095-A back to her Schedule C.
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