Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and the Yahoo Answers website is now in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Health Insurance Deduction 1099 Need proof?
Hi I'm self employed doing 1099.
I know I can deduct health insurance as a business expense.
What can I do to provide proof that I paid for health insurance. Anyone can make up a figure.
I couldn't find any 1099 info on my health insurance company online. My health insurance company automatically deducts a certain amount from my bank account every month. I don't get anything in the mail since it's paperless, so I don't get cancelled checks. I shoulda opted for health insurance paper statements.
My bank account online only goes back four months. Again, I shoulda opted for paper statements for my bank account.
Any help would be appreciated.
3 Answers
- A HunchLv 71 decade agoFavorite Answer
There is lots of things you should do:
If you don't get paper statements from your bank and your bank statements are only available for a limited time, you really need to print out a copy and keep it for your records before it disappears. Not just for this but to prove deposits and withdrawals.
If you are ever audited, you can contact your health insurance and ask for proof of payments.
- StephenWeinsteinLv 71 decade ago
Either the bank or the health insurance company can provide you with a list of the charges or account activity for the entire year.
- rtfmLv 71 decade ago
You don't need to physically attach the proof to your tax return. All you have to do is be ready with the proof in case you're audited. Just write down what you know are accurate numbers, and if you ever have to come up with paper proving those numbers, request them from your bank.