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How is schedule 1, line 17 calculated? Is there a way to check it?

Forum|Forum|2 years ago
March 10, 2024
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This is the self employed health insurance deduction. It has to be related to the medical expense worksheet line 2b, but I do not understand how Turbo Tax generated the numbers.

TurboTax Online

Best answer by Vanessa A

Did you enter a 1095-A? If you did and you selected that you were self-employed and linked the form to your business, then this would be automatically transferred.

The Self-Employed Health Insurance deduction is limited to your earnings. Meaning, you cannot deduct more than you earned. This is entered in the business expense section. So if you paid $10,000 in premiums but your profit was $6,000, your deduction would only be $6,000.

Taking Business Expense Deductions

V

Vanessa AAnswer

Did you enter a 1095-A? If you did and you selected that you were self-employed and linked the form to your business, then this would be automatically transferred.

The Self-Employed Health Insurance deduction is limited to your earnings. Meaning, you cannot deduct more than you earned. This is entered in the business expense section. So if you paid $10,000 in premiums but your profit was $6,000, your deduction would only be $6,000.

Taking Business Expense Deductions

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