turbotax icon
turbotax icon
turbotax icon
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

AnaGrahm
New Member

MAGI calculation done by Turbotax self-employed version on form 8962 is wrong, not adding half of my self-emp tax back in. Can I manually correct this form?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

6 Replies

MAGI calculation done by Turbotax self-employed version on form 8962 is wrong, not adding half of my self-emp tax back in. Can I manually correct this form?

MAGI for Form 8962 is not supposed to add the 1/2 SE tax back, so the program is doing it correctly.

AnaGrahm
New Member

MAGI calculation done by Turbotax self-employed version on form 8962 is wrong, not adding half of my self-emp tax back in. Can I manually correct this form?

Do you know TaxGuyBill where then my real Magi is indicated? And what will the health exchange consult to confirm the Magi for eligibility issues?
AnaGrahm
New Member

MAGI calculation done by Turbotax self-employed version on form 8962 is wrong, not adding half of my self-emp tax back in. Can I manually correct this form?

Do you know TaxGuyBill where then my real Magi is indicated? And what will the health exchange consult to confirm the Magi for eligibility issues?

MAGI calculation done by Turbotax self-employed version on form 8962 is wrong, not adding half of my self-emp tax back in. Can I manually correct this form?

As you pointed out, it is on Line 2-3 of Form 8962.
AnaGrahm
New Member

MAGI calculation done by Turbotax self-employed version on form 8962 is wrong, not adding half of my self-emp tax back in. Can I manually correct this form?

Lines 2 and 3 should not be the same for self-employed persons. The form is autogenerated by TT, which is not adding back in half of self-employment tax, as required by the IRS. This system glitch makes the calculations incorrect. Users beware.

MAGI calculation done by Turbotax self-employed version on form 8962 is wrong, not adding half of my self-emp tax back in. Can I manually correct this form?

As I said before, MAGI for purposes of the Premium Tax Credit should NOT add back 1/2 SE tax.  The program is correct.
Use your Intuit Account to sign in to TurboTax.
By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies