E-5
Self-Employed Health Insurance Deduction
TaxSlayer Navigation: Federal Section >Deductions>Adjustments>Self-Employment Health Insurance
TaxSlayer Navigation: Federal Section >Deductions>Adjustments>Self-Employment Health Insurance
Note: Calculations with Premium Tax Credit are Out of Scope with respect to the self-employed health insurance deduction.
Note: For taxpayers who are itemizing deductions, test to see if claiming the health insurance on Schedule A yields a better result.
Enter total amount of
premiums paid here
for health insurance
Enter the net prot from Schedule C in the eld
below the insurance payment amounts (the adjust-
ment amount cannot be greater than the net prot
from the business). TaxSlayer will automatically
subtract the adjustment for ½ of SE tax.
Note: For most returns (just one Schedule C) enter the qualifying health insurance and LTC insurance premiums (limit based on age)
on the Schedule C - Expenses screen, under health insurance in the software (see Tab D, Income, Schedule C - General Expenses).
TaxSlayer will automatically take any excess to Schedule A.
LTC premiums limited by age
for 2021:
Age 40 or under - $450;
Age 41 to 50 - $850;
Age 51 to 60 - $1,690;
Age 61 to 70 - $4,520;
Age 71 and over -$5,640.
