Insurance, Secondary Policy Question?

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  • MN Day Mom
    Daycare.com Member
    • Mar 2011
    • 246

    Insurance, Secondary Policy Question?

    The situation. Insurance offered through spouses job, he covers entire family. Not deductible. Have a secondary policy on the children through the state (MA) due to their disabilities (that we pay a parental fee for which is spendy), would this additional insurance be deductible on our 1040 as a self employment insurance cost?
  • TomCopeland
    Business Author/Trainer
    • Jun 2010
    • 3062

    #2
    insurance

    No. Because you are eligible to participate in your spouse's health insurance plan.
    http://www.tomcopelandblog.com

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    • Unregistered

      #3
      Something similar

      Yikes. A little different but similar. Myself and my kids could be on my spouses plan but we elected not to as we found private coverage cheaper. I've been deducting this cost on my 1040. How many years back should I ammend? Dang.

      Comment

      • MN Day Mom
        Daycare.com Member
        • Mar 2011
        • 246

        #4
        Thank you Tom. I too would appreciate the answer to how many years back someone should ammend. Do you go back to the first known error or is X amount of years acceptable?

        Comment

        • TomCopeland
          Business Author/Trainer
          • Jun 2010
          • 3062

          #5
          health insurance

          If you are eligible to participate on your spouse's health coverage, but don't, you can't claim the health insurance deduction. You can go back 3 years to amend. Don't bother amending 2008, because the deadline for auditing 2008 is April 17, 2012.
          http://www.tomcopelandblog.com

          Comment

          • MN Day Mom
            Daycare.com Member
            • Mar 2011
            • 246

            #6
            Thank you Very much Tom!!

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