What is the Above-the-line health insurance deduction?
The above-the-line health insurance deduction is an income adjustment available to self-employed Individuals who pay for their own health, dental, and vision insurance. It reduces adjusted gross income directly on Schedule 1 of Form 1040 without requiring itemization. The deduction covers premiums for the taxpayer, spouse, and dependents, and is limited to the taxpayer's net self-employment income. The Health savings account provides a separate above-the-line deduction that can be claimed in addition to the insurance premium deduction.
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