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Daycare and Taxes All things related to Taxes and running a Daycare post here. Topics of tax exemptions, forms, filings, tax write offs, IRS etc.

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Old 05-13-2021, 03:51 PM
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Vanka Vanka is offline
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Default Healt Insurance Premium

Hello,
While doing the taxes for 2020, where on Schedule C would you put health insurance premiums paid for yourself and your spouse? Neither of us qualified to a healthcare coverage through his employer at the time. We purchased is through a marketplace. I read everywhere that you should write it off but where? on Schedule C? we are married filing jointly. Do we still fill out 1040? If so, which line on 1040?

thank you.
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Old 05-14-2021, 07:27 AM
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Blackcat31 Blackcat31 is offline
 
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Originally Posted by Vanka View Post
Hello,
While doing the taxes for 2020, where on Schedule C would you put health insurance premiums paid for yourself and your spouse? Neither of us qualified to a healthcare coverage through his employer at the time. We purchased is through a marketplace. I read everywhere that you should write it off but where? on Schedule C? we are married filing jointly. Do we still fill out 1040? If so, which line on 1040?

thank you.
Good morning!

The new forum has a Tax section too!
If you want to post there it may get more traffic/replies since it seems most members are transitioning over to the new board.

You can find the section here: https://forum.daycare.com/forum/daycare-and-taxes
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Old 05-14-2021, 11:13 AM
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TomCopeland TomCopeland is offline
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Default Health insurance

Quote:
Originally Posted by Vanka View Post
Hello,
While doing the taxes for 2020, where on Schedule C would you put health insurance premiums paid for yourself and your spouse? Neither of us qualified to a healthcare coverage through his employer at the time. We purchased is through a marketplace. I read everywhere that you should write it off but where? on Schedule C? we are married filing jointly. Do we still fill out 1040? If so, which line on 1040?

thank you.
They are deductible on Form 1040, Schedule 1, line 16.
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