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Itemized Deductions Schedule-A

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Old 02-04-2011, 05:34 PM
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Join Date: Feb 2009
Posts: 21
Health Insurance Deduction

I was in the personal section of TurboTaxT Home and Business. Its asking if I paid health insurance premiums in 2010. If I say yes it takes me to the business section. Then it says "You can deduct up to 100% of health insurance premiums for you, your spouse and your dependents if you are self-employed and have a net profit from the business for which you created the plan."

The problem I'm having is where it says "from the business for which you created the plan."

I didn't create an insurance plan for the business. Then it says its going to enter the figures on Form 1040 so why did it take me back to the business section. I'm not sure whether to take this deduction or not. Its a bit confusing.


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