- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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?
Topics:
posted
June 1, 2019
5:23 PM
last updated
June 01, 2019
5:23 PM
Connect with an expert
Do you have an Intuit account?
You'll need to sign in or create an account to connect with an expert.
6 Replies
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
June 1, 2019
5:23 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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?
June 1, 2019
5:24 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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?
June 1, 2019
5:24 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
June 1, 2019
5:24 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
June 1, 2019
5:24 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
June 1, 2019
5:24 PM
523
Still have questions?
Make a post