You may be able to deduct 100% of the amount paid for
medical and dental insurance and qualified long-term care insurance for
you, your spouse, and your dependents if you are one of the following.
A self-employed individual with a net profit reported on
Schedule C, C–EZ, or F.
A partner with net earnings from self-employment reported on
line 15a of Schedule
K–1 (Form 1065).
IRC Section 162 (l)
A shareholder owning more than 2% of the outstanding stock of an
S corporation with wages from the corporation reported on Form W–2.
The insurance plan must be established under your business.(The
publication says this, it doesn't appear the code does though) You may
be allowed this deduction whether you paid the premiums yourself or your
partnership or S corporation paid them and you included the premium
amounts in your gross income. For sole
proprietors, the policy does not have to be in the name of the business
if it is in the name of the sole proprietor. Take the deduction on line 29 of Form
1040.
IRS Publication 535 HTMLpdf page 18
