How did Turbo Tax calculate The self employed Health Insurance deduction reported on Schedule1, Line 17. Please provide the specific amounts used since my calc differs?

Forum|Forum|2 years ago
April 5, 2024
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TurboTax Online

DaveF1006

This would be difficult without looking at your return and the calculation worksheet. To look at this in detail and , we would like to see a diagnostic copy of your return. The information in this file is a sanitized copy meaning there is no personal information, only numbers so that we can troubleshoot in depth, check for calculation issues, and to see how certain items are applied. Here is how to order.

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ciancecAuthor

Hello Dave,

My Token Number is 1227845

Thank You

VolvoGirl

What kind of insurance did you have? Maybe this will help?

Self-employed health insurance deduction goes on Form 1040 Schedule 1 line 17 then to 1040 line 10, as long as the expense is not greater than your net self-employment income. If it does exceed your net self-employment income it gets split automatically. An amount equal to your net self-employment income goes on Form 1040 Schedule 1 line 17 and the remainder gets added in to medical expenses on Schedule A.

BUT do not enter any Health Care Marketplace insurance you bought. If you enter the 1095-A and select the "Self-employed and bought a Marketplace plan" box, it will automatically include those premiums in the SE Health Insurance section. So you shouldn't enter it again on schedule C.

Do you get Social Security? Medicare plan B payments are qualified as Self-employed medical insurance premiums and should be entered under Business instead of in the Social Security Benefits entry area. So go back and take it off your SSA-1099 entry.