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!
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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.
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