Christian Posted September 29, 2014 Report Share Posted September 29, 2014 A retired client has been elected to serve on the board of a local bank. As this is regarded as self employment income by the Service it seems to me he is entitled to deduct his medical insurance premiums against this income on line 29 of the Form 1040. What do y'all think ? He deducts NO medical expenses on Schedule A. Quote Link to comment Share on other sites More sharing options...
mcb39 Posted September 29, 2014 Report Share Posted September 29, 2014 I have had a credit union director as a client for years. Yes, it is self-employment. I see no reason why the Line 29 could not be used. My client doesn't have enough income from it to qualify anyway and in any case, his wife carries their Medical Ins through work so that disqualifies him. Quote Link to comment Share on other sites More sharing options...
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