Asked by bean
Fredrik is self-employed as a podcast host and earned $36,200 in net self-employment income this year. His wife, Lorraine, is a school teacher and was eligible all year for a family health insurance plan through her employer. Fredrik paid $500 per month for his own health insurance. What is the total amount of health insurance premiums that Fredrik can deduct as an adjustment to income on their tax return?
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Because Lorraine was eligible all year for a family plan through her employer, Fredrik is considered eligible to participate in employer‑sponsored coverage as a spouse. The self‑employed health insurance deduction is disallowed for any month the taxpayer is eligible for employer‑sponsored coverage, so he cannot deduct his $500/month ($6,000) premiums.
Because Lorraine was eligible all year for a family plan through her employer, Fredrik is considered eligible to participate in employer‑sponsored coverage as a spouse. The self‑employed health insurance deduction is disallowed for any month the taxpayer is eligible for employer‑sponsored coverage, so he cannot deduct his $500/month ($6,000) premiums.
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