Discussion Archives:SE Health Ins. - Any Ded. on the Sched. C?

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Discussion Forum Index --> Tax Questions --> SE Health Ins. - Any Ded. on the Sched. C?


Gmikeg (talk|edits) said:

28 March 2006
I have a client that paid almost $8000 for her COBRA plan. Can ANY of this be taken as a deduction right on the Schedule C, or does it have to flow to Line 28 on the 1040? (I've got a serious SE tax problem here).

Thanks,

Mike

Warren (talk|edits) said:

28 March 2006
It can't be taken on Schedule C. It is an adjustment to income on line 28.

Gjams (talk|edits) said:

9 April 2006
Another question is can COBRA insurance be treated as self employed health insurance and taken as a deduction on line 28? I have a client who went to work for himself after losing his job and going on COBRA.

Sw (talk|edits) said:

9 April 2006
If he loss his job due to the company taking the jobs out of the county. He might be able to get the TAA (trade ajustment assistance) on form 8885. Their a site where you can check. Try a google search.

Klesher (talk|edits) said:

9 April 2006
I do not believe the COBRA insurance can be taken above the line, in the case of an employee

DZCPA (talk|edits) said:

10 April 2006
COBRA is insurance for "non employee". I agree with Warren. Deduct on line 28.

JDACPA (talk|edits) said:

10 April 2006
Deduct on line 28
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