Mike and Rose are married and file jointly.Mike earns $45,000 from wages and Rose reports $450 on her Schedule C as an artist.Since Mike's work does not offer health insurance, Rose pays the following health insurance premiums from her business account: $\begin{array}{llcc}
\text { Family heal th insurance } & \$9,500 \
\text { Family dental insurance } &1,000\
\end{array}$
How much can Mike and Rose deduct as self-employed health insurance?

Question

Mike and Rose are married and file jointly.Mike earns $45,000 from wages and Rose reports $450 on her Schedule C as an artist.Since Mike's work does not offer health insurance, Rose pays the following health insurance premiums from her business account: $\begin{array}{llcc}
  \text { Family heal th insurance  } & \$9,500 \
 \text { Family dental insurance } &1,000\
\end{array}$
 How much can Mike and Rose deduct as self-employed health insurance?

Quizplus · Accepted Answer

The Answer is $450.The deduction for self-employed health insurance is only allowed to the extent of the self-employed earnings.The remainder can be treated as an itemized medical deduction.

Mike and Rose Are Married and File Jointly Family heal th insurance $9,500 Family dental insurance 1,000\begin{array}{llcc} \text { Family heal th insurance } & \$9,500 \\ \text { Family dental insurance } &1,000\\\end{array} Family heal th insurance Family dental insurance ​$9,5001,000​

Mike and Rose Are Married and File Jointly $\begin{array}{llcc} \text { Family heal th insurance } & \$9,500 \\ \text { Family dental insurance } &1,000\\\end{array}$