Does anyone know if foreign health insurance can be used as a self-employed health insurance deduction for American taxes?
The main point is policy owner be your company with no saving cash value in the health policy can be tax deductible elsewhere
If the question is whether it can take the place of paying the 15.3% self-employment tax, you would have to be a tax resident of Portugal paying into the local Social Security. Read last paragraph here: https://1040abroad.com/faq/deductions-and-credits/
I’ve been struggling with this particular question myself. Not all countries around the world are covered so if you are moving around and don’t have tax residency in Portugal or another country part of the deal, you are on the hook for that 15.3% even if you haven’t lived in the US for years.