SEHI and IRA Deduction

Technical topics regarding tax preparation.
#1
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3
Joined:
7-Dec-2021 10:12am
Location:
76262
Business makes $4,900. IRA deduction $4,200. Can SEHI of medicare premiums $1,979 be deducted too?
 

#2
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3869
Joined:
21-Apr-2014 11:24am
Location:
North Carolina
A traditional IRA does not change the net profit, so yes, you can deduct the Medicare premium.
 

#3
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3
Joined:
7-Dec-2021 10:12am
Location:
76262
That is what I thought. My tax software confirms this. IRS does not think that SEHI is deductible.
 


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