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On a 1040 form can I deduct health insurance that I pay because my employer does not offer health insurance?

April 26, 2017Business deduct Finance form health insurance taxes United

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On a 1040 form can I deduct health insurance that I pay because my employer does not offer health insurance?

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Yes, health insurance that you buy on your own is deductible as an itemized medical deduction on Schedule A. Unfortunately, the insurance plus other medical deductions won’t help you unless they total more than 7.5% of your gross income, and even then might not.

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This deduction is itemized deduction. You will take deduction only if your itemized deductions are more than your standard deduction..You can deduct the medical expenses that are more than 7.5% of your adjusted gross income (Form 1040, line 38). Read: http://taxipay.blogspot.com/2008/05/item…