Can prepaid medical insurance premiums be deducted as adjustment to income for self employed individual.

[BPM11]

I have client capable of prepaying monthly medical insurance premiums for year, before year 2018 ends.  I seem to remember medical insurance premiums paid in current year for up to one year in advance are deductible for cash basis taxpayers.  However, I am not sure if that is true only for deducting as itemized deduction, or if prepaid medical insurance for up to one year is also deductible as adjustment to income, assuming taxpayer is self employed and has net schedule c in excess of total medical insurance premiums paid.

[George4Tacks · Accepted solution]

I think page 8 of https://www.irs.gov/pub/irs-pdf/p538.pdf would seem to say yes. I also think that you have now established a need to prepay this every year to keep even. I guess if your crystal ball says this is a banner year and next year will be a drought, it might be a good planning strategy.