Welcome Guest. Register Now!  


Itemized Deductions Schedule-A


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-04-2011, 05:34 PM
Junior Member
 
Join Date: Feb 2009
Posts: 21
Health Insurance Deduction

I was in the personal section of TurboTaxT Home and Business. Its asking if I paid health insurance premiums in 2010. If I say yes it takes me to the business section. Then it says "You can deduct up to 100% of health insurance premiums for you, your spouse and your dependents if you are self-employed and have a net profit from the business for which you created the plan."

The problem I'm having is where it says "from the business for which you created the plan."

I didn't create an insurance plan for the business. Then it says its going to enter the figures on Form 1040 so why did it take me back to the business section. I'm not sure whether to take this deduction or not. Its a bit confusing.

Anybody



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
For 2010, IRS offers eligible Self-Employed, a deduction for Health Insurance payments in calculating the Self Employment Tax! TaxGuru Sole-Proprietorship 1 02-01-2011 02:45 AM
LLC Deduct Health Insurance Premium SandiJ Limited Liability Company 1 02-01-2011 02:42 AM
health insurance sportmommy3 C-Corporation 0 12-22-2010 10:30 AM
Health Insurance premium grod Itemized Deductions 1 03-04-2008 11:26 AM
Health Insurance Deduction Question ubspromo S-Corporation 5 11-19-2007 11:40 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.