Question

TT is miscalculating my self-employed health ins. deduction. I bought insurance via exchange, paid nothing, and should be repaying $2800. I'm seeing a deduction of $5624?

Forum|Forum|3 years ago
April 4, 2023
1 reply
0 views

My assumption is that my deduction would be limited to what I end up paying for health insurance. (The $2800 ACA repayment). Somehow TT is coming up with this larger number, which should instantly raise a red flag. Please help! This is driving me nuts.

TurboTax Self Employed Online

M

mglauner

Yes, you are correct that your Self-Employment Health Insurance Deduction should be limited to the repayment amount.

Did you enter your 1095-A info only and indicate that it was self-employment insurance in that section? If so, you should not enter it anywhere else in TurboTax.

If you're using TurboTax Online, you could delete your 1095-A, close TurboTax, clear your Cache and Cookies, re-open TurboTax and re-enter your 1095-A.

Since we can't see your return in this forum, let us know if this doesn't resolve your issue.

Here's more info on How to Enter 1095-A.

@misko22

M

misko22Author

Thank you for replying. I tried everything you suggested, but got the same erroneous result. I deleted the 1095-A form, signed out of TurboTax, cleared the cache and cookies, and then re-entered the info for 1095-A, indicating that it was for self-employment. I got the same wrong result. Kindly help!