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TomCopeland 10:55 AM 04-02-2012
Since you and your spouse are both self-employed you can both deduct your health insurance premiums on Form 1040, line 29. However, if your total income (Form 1040, line 22) is a loss (the combined loss from his business and the profit from your business) - you can't claim the health insurance premium deduction. If your total income is a profit, then you can claim the insurance premium (to the extent that it doesn't create a loss).

Health insurance costs are not deductible to you as a business expense (it was deductible in 2010, but not for 2011).
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