Wife can deduct all her family's health ins premiums subject
to normal requirement therefor and a plan in her business to
do so. That husband has work has no bearing;

ed

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

James wrote:

- quote -

The deduction applies to a plan that is established under
your own business. Therefore, he may not use his wife's S
Corp. In fact, if he had three businesses: one with $5000
of net income, one with $2000 of net income and one with
$200 of net income and he had established the medical plan
under the business that had $200 of net income, he would be
limited to $200. He could not use the income from his other
businesses to take the $3500 deduction.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

Wife has self-employed health insurance of $4,000 through
her S Corp (she has 24,000 of wages from this S corp).
Husband has a Schedule C with $200 net income, and $3,500 of
self-employed health insurance. Is the husbands insurance
deduction limited to his $200 net income or can he deduct it
against his wife's S Corp Income?

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >