Can insurance copays be duducted on taxes for self employed?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
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Topic Author
knibloe
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Joined: Fri Mar 27, 2020 10:29 pm

Can insurance copays be duducted on taxes for self employed?

Post by knibloe »

If someone is self employed and gets hurt while working, could they deduct their out of pocket expenses? More specifically, I have a small farm. Part of that includes an apiary (bee farm). I got stung the other day while I was working the bees. I had a severe reaction and ended up in the ED. Could my copays and deductables be considered a business expense? I also know that one cannot double dip. So if the expenses in question were paid with pre tax dollars I understand that they wouldn't be deductable a second time.

I suppose a similar question could be if someone drives a personal vehicle for business related activities and had and accident while conducting business, would their deductables be considered a business expense?
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