Form 1040 schedule 1 line 17 - my actual yearly premium paid was $8,293. Line 17 shows it as $14,252. My premium was input on my LLC K1 - box 13 code M as $8293. Don't know how the 1040 has almost $6000 more.
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Did you have healthcare through the online marketplace? The system pulls your payments from there and puts them in the self-employed health insurance deduction directly.
I did have insurance through the online marketplace. I have form 1095A (supplied by marketplace) form 8962 and form 7206. 7206 is the Self Employed Health Insurance Deduction form - the system filled it out and on line 14 it has $8293 with instructions that it go on the 1040 Schedule 1 line 17. But the sched 1 line 17 was also filled out by the system for $14252, the incorrect amount. Unless there's something else at play that I'm not picking up on, that figure will have to be changed/overridden by me. Thoughts??
Do you have to pay back any advanced premium tax credits? If so, whatever you need to pay back would be included in the 1040 Schedule 1, line 17 amount.
That's a good thought, but no, I don't have to pay back any premium tax credits. Obviously I can't claim $5959 more for health insurance premiums than I paid. But I'm unable to change or override line 17. So I don't know what to do. Must be some kind of a work around but I don't see it.
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