Page 95 - Individual Forms & Instructions Guide

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Qualified expenses include Line 14 the S corporation are shown as wages on
TIP amounts paid or incurred in Form W-2.
2022 for personal protective Moving Expenses The insurance plan must be establish-
equipment, disinfectant, and other sup- You can deduct moving expenses if you ed under your business. Your personal
plies used for the prevention of the are a member of the Armed Forces on services must have been a material in-
spread of coronavirus.
active duty and due to a military order come-producing factor in the business.
Qualified expenses don’t include ex- you move because of a permanent If you are filing Schedule C or F, the
penses for home schooling or for non- change of station. Use Tax Topic 455 or policy can be either in your name or in
athletic supplies for courses in health or see Form 3903. the name of the business.
physical education. If you are a partner, the policy can be
You must reduce your qualified ex- Line 15 either in your name or in the name of the
penses by the following amounts. Deductible Part of partnership. You can either pay the pre-
• Excludable U.S. series EE and I Self-Employment Tax miums yourself or your partnership can
savings bond interest from Form 8815. If you were self-employed and owe pay them and report them as guaranteed
• Nontaxable qualified tuition pro- payments. If the policy is in your name
gram earnings or distributions. self-employment tax, fill in Schedule SE and you pay the premiums yourself, the
to figure the amount of your deduction.
• Any nontaxable distribution of partnership must reimburse you and re-
Coverdell education savings account The deductible part of your self-employ- port the premiums as guaranteed pay-
ment tax is on line 13 of Schedule SE.
earnings. ments.
• Any reimbursements you received Line 16 If you are a more-than-2% sharehold-
for these expenses that weren’t reported er in an S corporation, the policy can be
to you in box 1 of your Form W-2. Self-Employed SEP, SIMPLE, and either in your name or in the name of the
For more details, use Tax Topic 458 Qualified Plans S corporation. You can either pay the
or see Pub. 529. If you were self-employed or a partner, premiums yourself or the S corporation
can pay them and report them as wages.
Line 12 you may be able to take this deduction. If the policy is in your name and you
See Pub. 560 or, if you were a minister,
pay the premiums yourself, the S corpo-
Pub. 517. ration must reimburse you. You can de-
Certain Business Expenses of duct the premiums only if the S corpora-
Reservists, Performing Artists, Line 17 tion reports the premiums paid or reim-
and Fee-Basis Government Self-Employed Health Insurance bursed as wages in box 1 of your Form
Officials Deduction W-2 in 2022 and you also report the pre-
Include the following deductions on You may be able to deduct the amount mium payments or reimbursements as
wages on Form 1040 or 1040-SR,
line 12. you paid for health insurance for your- line 1a.
• Certain business expenses of Na- self, your spouse, and your dependents.
tional Guard and reserve members who The insurance can also cover your child But if you were also eligible to par-
traveled more than 100 miles from home who was under age 27 at the end of ticipate in any subsidized health plan
to perform services as a National Guard 2022, even if the child wasn't your de- maintained by your or your spouse's em-
or reserve member. pendent. A child includes your son, ployer for any month or part of a month
• Performing-arts-related expenses daughter, stepchild, adopted child, or in 2022, amounts paid for health insur-
as a qualified performing artist. foster child (defined in Who Qualifies as ance coverage for that month can't be
• Business expenses of fee-basis Your Dependent in the Instructions for used to figure the deduction. Also, if
state or local government officials. Form 1040). you were eligible for any month or part
For more details, see Form 2106. One of the following statements must of a month to participate in any subsi-
dized health plan maintained by the em-
be true. ployer of either your dependent or your
Line 13 • You were self-employed and had a child who was under age 27 at the end
Health Savings Account (HSA) net profit for the year reported on of 2022, don’t use amounts paid for cov-
Deduction Schedule C or F. erage for that month to figure the deduc-
• You were a partner with net earn- tion.
You may be able to take this deduction ings from self-employment.
if contributions (other than employer • You used one of the optional A qualified small employer
contributions, rollovers, and qualified methods to figure your net earnings ! health reimbursement arrange-
HSA funding distributions from an IRA) from self-employment on Schedule SE. CAUTION ment (QSEHRA) is considered
were made to your HSA for 2022. See • You received wages in 2022 from to be a subsidized health plan main-
Form 8889. an S corporation in which you were a tained by an employer.
more-than-2% shareholder. Health in- Example. If you were eligible to par-
surance premiums paid or reimbursed by
ticipate in a subsidized health plan main-

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