Juan W. asked

💰  Tax

If you are age 67, on Social Security, pay $1200 for Medicare Part B, and are self-employed with a small business, will the Medicare payment count as an adjustment to your income on your 1040, but not be deductible as a business expense on your Schedule C?

June 29th, 2024

Alexander B. answered

Yes, the Medicare payment will count as an adjustment to your income on your 1040. However, it canno...

June 29th, 2024

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