How do partners in self-employed business who pay own health premiums deduct them?

[abctax55]

I'm not sure what you mean by 'partners' in a 'self-employed' business.

Partners = K-1

Self-employed = Sch C 

[Greta]

Two brothers formed a partnership for construction work which issues them a K-1. Each pays for their own Medicare, wife's medicare, supplemental insurance. Are they able to deduct these premiums which they could had they filed a Sch C.

[Terry53029]

You would them on Schedule 1, line 17 of the 1040, "Self Employed Health Insurance Deduction"

[Terry53029 · Accepted solution]

Just want to bring to your attention that ProSeries has form 7206 for self employed health insurance, but I have just put it on schedule 1. I was not aware of that form.

[Just-Lisa-Now-]

Theres a quick zoom button at Line 20z of each partners K-1 worksheet where you can enter health insurance paid.

[Terry53029]

@Just-Lisa-Now-  Poster said partner paid himself, so would not be on K1

[Just-Lisa-Now-]

its an entry point to the SEHI worksheets while youre in the K-1 screen, isnt it?

[Terry53029]

You are right, its an entry point. I don't use the worksheet, unless the partnership pays the premium. Just put on schedule 1, but I also put the foreign tax paid right on schedule 3, as I'm a little lazy 😁