I am in Iowa self employed and take the insurance premium deductions under the business for myself and my spouse. I waited for last week's new form 7206 correction which downloaded finally allowing me to efile. My fed return was accepted, my Iowa return rejected due to "overstatement of health premiums". I downloaded today's updated Iowa corrections to Turbotax. But nothing has changed. Since my insurance deduction is already in my Form C, it is accounted for. BUT the system repeats it a second time on Iowa 1040 line 18. Therefore it is double applying the deduction! However, there is no way to correct the forms. HELP!
Can you clarify? Iowa line 18 is just a line with a total. Can you see which form and which line begins the problem?
To see your forms:
Correction of yesterday’s post. It had a typo.
To clarify, the duplicate long term care insurance amount that I corrected to $0 is located:
Iowa 1040
Schedule 1 Iowa Modification to Federal Total Income
Line 15 Health insurance deduction
I am self employed so I took Part premium D as an Expense on my Federal schedule C and then in that form the Long term care premium is taken as a deduction. So both are already in my federal business results. But Turbo tax has a bug as when it used data from my federal to fill out my state return, it erroneously added the ltc premium amount into the form above. I corrected it by fixing it as above and filling state again and it was accepted.