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How to Deduct Family Health Care Premiums Under Side Business
No, not on schedule C, better. Its an "above the line" deduction (line 29 on your 1040). Here's the turbo tax article on it. The instructions for this line set certain limitations that you must take into the account, and yes - it is limited to the net profit from the business. One of the following statements must be true. You were self-employed and had a net profit for the year. You were a partner with net earnings from self-employment. You used one of the optional methods to figure your net earnings from self-employment on Schedule SE. You received wages in 2011 from an S corporation in which you were a more-than-2% shareholder. Health insurance premiums paid or   reimbursed by the S corporation are shown as wages on Form W-2. 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.