How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lev Your Own Question
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28081
Experience:  Taxes, Immigration, Labor Relations
Type Your Tax Question Here...
Lev is online now
A new question is answered every 9 seconds

I am self employed. I have health coverage through

Customer Question

I am self employed. I have health coverage through affordable care act. My husband's name is ***** ***** our account. Can I deduct the premiums as a business expense? He does not have health coverage offered through his job
Submitted: 6 months ago.
Category: Tax
Expert:  Lev replied 6 months ago.
You might not like my answer...Unfortunately there are strict requirements for such deduction...
Expert:  Lev replied 6 months ago.
See instructions 33
Expert:  Lev replied 6 months ago.
The insurance plan must be established under your business. Your personal services must have been a material income-producing factor in the business. If you are filing Schedule C, C-EZ, or F, the policy can be either in your name or in the name of the business. The health insurance policies may cover the taxpayer, the spouse and dependents - but MUST be under the name of business owner.Sorry if you expected differently.I appreciate if you take a moment to rate the answer.Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all tax related issues.