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What is this "meter" you refer to?
I don't know how dramatic it's going to be for people, but I can see for my return, the self employed health insurance deduction has been overestimated by a couple thousand dollars, which would reduce my refund by about $300. On the other hand, it is still showing advance premium tax credit owed, which should be eliminated in the new tax law.
Yeah, thanks, but no, I think I'll wait rather than go in manually and delete "unfamiliar" entries. There is a lot of new stuff this year.
I would ignore that advice.
Correct
Suggest you not follow Tracey down that rabbit hole
Not fixed as of update for Home & Business download version on April 29
If someone "does not know" where figures are coming from, and you delete or change them, that is not a good idea. Good luck!
The self employed health insurance issue is not yet fixed as of April 29 for download customers.
The notice said the fix should be in by 4/30 but it could be delayed.... and FYI the fix may not show up until late in the evening so don't expect it at a minute after midnight... patience will be needed as they work to correct the error.
Just hoping that as of May 1, this is actually fixed so we can all actually file our returns! What's especially frustrating is that there is literally no way to e-file until Turbo Tax fixes whatever it is that's generating the rejection by the IRS. TurboTax already reflects that fact that excess premiums don't have to be repaid -- my return shows $0 due for this and that is the version of my return that was rejected by IRS. So, there's nothing more I can do manually or otherwise to fix this. (But TurboTax IS still showing an erroneous amount paid for self employed health insurance...something that's been a problem for years with TurboTax; again, not something the program allows you to override or fix in any way). I'm wondering if other tax software is having a similar issue...
I have TT Home & Business download (Mac). My initial filing on 4/15 was rejected due to this issue, but after the update last night or early this morning, I was able to file and it was accepted. For those of you who are saying that is is not fixed, have you updated? Did you go back to the Affordable Care Act section of Deductions and click through everything again? That's all I did, there were no changes, the numbers stayed the same, and my filing was accepted by the IRS and state.
I'm using the online version. When I logged in, and went through the prompts, it's still saying things aren't updated. I'm holding tight until after the 30th. I do not want to have to amend this bad boy.
Mine did not appear to be updated to fix this issue, but I will take your suggestion and click through the section again.
[EDIT]: Clicked through this section, and no change. It was not fixed for me. Although I am not being dunned the PTC repayment amount on the 1040 Schedule 2, it is still not correct on Form 8962, which shows an excess PTC amount showing. The Schedule 1 also shows a larger SE health insurance deduction than I paid in premiums. So I will check back tomorrow.
[EDIT 2] OK, I finally figured out how TT is incorrectly calculating the SE health insurance deduction on Line 16 of Schedule 1 (1040). To the correct amount of actual premiums I paid, it is adding from Form 8962 the incorrect amount on Line 29 titled "Excess Advance Premium Tax Credit Repayment" (in my case, about $2000). TT should show this as a zero under the AR Plan, which would reduce my SE health insurance deduction amount by $2000.
Do we have any update on this? It's 4/30 now, and from what I can tell it's not yet fixed. I am weeks late at filing my taxes as a result of this - very disappointing.
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