I’m self-employed. Can my husband deduct his Medicare premiums?

  • November 1, 2015

Q. I am self-employed and my husband is on Medicare. I deduct my health care premiums on my income tax. I recently heard that I also can deduct his Medicare Part A, Part B, Part C and Part D premiums. Is this really true?

A. Yes. In 2012, the IRS ruled that Medicare insurance premiums can be counted. Under the ruling, Medicare premiums covering the self-employed individual – as well as his or her spouse, dependents, and under-age-27 children – are deductible.

The deduction cannot exceed the self-employed person’s earned income – after expenses. For example, if you have net Schedule E income of only $10,000, your deduction cannot exceed $10,000.

Read more FAQs about self-employed health insurance.

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