Self-Employed Health Insurance Deduction and PTC (Premium Tax Credit – Subsidy)
Excerpt from Publication 974
This section of Publication 974 provides special instructions for figuring the self-employed health insurance deduction and PTC if you or your spouse was self-employed, you or a member of your tax family was enrolled in a qualified health plan in 2018, and you may be eligible for the PTC. Because the amount of the self-employed health insurance deduction may affect the amount of the PTC, and the amount of the PTC may affect the amount of the deduction, a taxpayer who may be eligible for both may have difficulty determining the amounts of those items. A taxpayer who may be eligible for both may follow the instructions in this part to determine amounts of the self-employed health insurance deduction and PTC that are allowable under the law. Publication 974
Historical Crystal Ball – Guess Work
Main Small Biz Tax Credit and Related Pages
Health Insurance Deduction Line 29 for self employed
Schedule C – Line 12 Biz Income or Loss, Line 29 Health Insurance Premiums, Line 37 Adjusted Gross Income, MAGI Income
Premium Tax Credit # 8962 Health Coverage Tax Credit #8885 Form 1040 and Instructions Self Employed – New Definition under Health Care Reform – Introduction AB 1672 – (1992 to 2013) Small Group Health Rules prior to Obamacare
This is a quite complicated topic. Please review the reference material on this page and check with your tax preparer.
Resources & Links
If you earn less than $60k, tax software is available for Free!
What about estimating and uneven income? Kaiser Foundation FAQ’s.
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Car and Truck Expenses
Legal and Professional Fees
Travel and Meals
Business Use of Your Home
Other Expenses You Can Deduct
Expenses You Cannot Deduct