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This article applies to:

  • Product: UltraTax CS
  • Return type: 1040 Individual
  • Subject: Health care

Self-employed health insurance deduction for Schedule C

To enter self-employed health insurance premiums for a Schedule C, and calculate the deduction on Form 1040, Schedule 1, line 17, follow these steps:
  1. Go to the Business folder while in the input screen view.
  2. On the
    C
     Screen, enter the nonspecified premiums in the
    Health insurance premiums
     field.
  3. To view the deduction calculation, review Form 7206, Self-Employed Health Insurance Deduction in Forms View. The amount calculated on Line 14 of this worksheet (if any), will carry to Form 1040, Schedule 1.
    note
    If the taxpayer’s insurance plan for this activity was obtained via the Health Insurance Marketplace, complete the
    1095A
    screen in the Health Care folder for the specified premiums reported on Form 1095-A, and enter
    X
     in the
    Apply to SE Health Ins
     field for all applicable months. If the taxpayer has specified premiums and is claiming the premium tax credit, the application will produce the PTC Worksheets W, X, Simplified Calculation, Y and Z, if applicable, to determine the appropriate self-employed health insurance deduction including any deduction allowed for nonspecified premiums paid in addition to specified premiums.

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