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Level 3
posted Mar 9, 2024 5:06:09 PM

How is schedule 1, line 17 calculated? Is there a way to check it?

This is the self employed health insurance deduction.  It has to be related to the medical expense worksheet line 2b, but I do not understand how Turbo Tax generated the numbers.

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1 Best answer
Expert Alumni
Mar 9, 2024 5:11:27 PM

Did you enter a 1095-A?  If you did and you selected that you were self-employed and linked the form to your business, then this would be automatically transferred. 

 

 The Self-Employed Health Insurance deduction is limited to your earnings.  Meaning, you cannot deduct more than you earned. This is entered in the business expense section.  So if you paid $10,000 in premiums but your profit was $6,000, your deduction would only be $6,000.

 

Taking Business Expense Deductions

1 Replies
Expert Alumni
Mar 9, 2024 5:11:27 PM

Did you enter a 1095-A?  If you did and you selected that you were self-employed and linked the form to your business, then this would be automatically transferred. 

 

 The Self-Employed Health Insurance deduction is limited to your earnings.  Meaning, you cannot deduct more than you earned. This is entered in the business expense section.  So if you paid $10,000 in premiums but your profit was $6,000, your deduction would only be $6,000.

 

Taking Business Expense Deductions