I have a my own LLC and working as self employee for this company. I am working on 1099 for this company. Since there is only 2 employee (including my spouse), I can't take health insurance from my business. In short I don't have a health insurance from my business.
I understand that on W2 if my medical expenses + premium goes beyond 7.5% of my AGI and if I do itemize tax filing, then only I can deduct that.
But being on 1099 with my company can I deduct my monthly insurance in my tax?
Note: We are family of 4 member and gross income is less than 94K. I took the insurance from Healthcare.gov (Obama care). I will get some Obama care subsidies at the year end. I also understand that I am talking the deduction about only the premium which I paid, but not on the subsidies which I will get.
Thanks in advance.