SELF EMPLOYED HEALTH INSURANCE

[theMezzMan]

I am trying to add a number to the SELF EMPLOYED HEALTH INSURANCE so it appears on 1040. Exactly how do I add that?

[AliciaP1]

You need to "attach" your 1095A to your business income.  TurboTax will then calculate the correct amount of the credit.

Once you have entered your 1095A information, you will mark that "I'm self-employed and bought a Marketplace plan".  The next screen lets you choose the business that is associated with it and verifies the operating months of the business.  Once you hit Continue past the 1095A entry to will see the credit calculated.

[Mike9241]

did you have Marketplace insurance - you get a 1095A?. or did you have personal health insurance not through the Marketplace. . there should be a question as you are entering your schedule c information.

[VolvoGirl · Accepted solution]

Where to enter Self Employed Health Insurance
https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-health-insurance-premi...

Self-employed health insurance deduction goes on Schedule 1 line 17,  which goes to 1040 line 10, as long as the expense is not greater than your net self-employment income. If it does exceed your net self-employment income it gets split automatically. An amount equal to your net self-employment income goes on Schedule 1 line 17, and the remainder gets added in to medical expenses on Schedule A.

BUT do not enter any Health Care Marketplace insurance you bought. If you enter the 1095-A and select the "Self-employed and bought a Marketplace plan" box, it will automatically include those premiums in the SE Health Insurance section. So you shouldn't enter it again on schedule C.

[theMezzMan]

I did not buy a market place plan.

[theMezzMan · Accepted solution]

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@VolvoGirl wrote:

Where to enter Self Employed Health Insurance
https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-health-insurance-premi...

Self-employed health insurance deduction goes on Schedule 1 line 17,  which goes to 1040 line 10, as long as the expense is not greater than your net self-employment income. If it does exceed your net self-employment income it gets split automatically. An amount equal to your net self-employment income goes on Schedule 1 line 17, and the remainder gets added in to medical expenses on Schedule A.

BUT do not enter any Health Care Marketplace insurance you bought. If you enter the 1095-A and select the "Self-employed and bought a Marketplace plan" box, it will automatically include those premiums in the SE Health Insurance section. So you shouldn't enter it again on schedule C.

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Thank you, but I can't seem to do that. I open in forms, go to Schedule 1 line 17 click on where it says "go to supporting form".  That takes me to 1040/1040SR WKS - and Line 10 says "adjustments to income from schedule one line 26" and it has an amount in there already - which is not the premium I paid for insurance.

I do not see anywhere how to get the amount I paid for health insurance into the proper field.

[theMezzMan]

THANK YOU.

The URL you provided is the correct answer and it worked just fine.

https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-health-insurance-premi...

[plshlp]

I'm entering the information exactly this way and TT is not calculating anything on line 17 of schedule one.  I have linked my business in the 1095 A section.  My income exceeds amount of premiums paid for health insurance.  I can't get TT to give me credit for the difference between the enrollment premium and the tax credit even though I have linked my business.  I'm using TT Premier.  

[VolvoGirl]

@plshlp   do you have a Net Profit on your schedule C for self employment?  (not just the income)

Self-employed health insurance deduction goes on Schedule 1 line 17 which goes to 1040 line 10, as long as the expense is not greater than your net self-employment income. If it does exceed your net self-employment income it gets split automatically. An amount equal to your net self-employment income goes on Schedule 1 and the remainder gets added in to medical expenses on Schedule A.

[plshlp]

File 1120 S for LLC.  Pass through net income is significant and exceeds amount paid for health insurance.   

[VolvoGirl]

I have an old note for that.  See if it still works.

If this is for a Schedule K-1 you got you can enter it in Premier. You will come across the entry screen when you enter the K-1 or if you already entered the K-1......

This amount is entered on the K-1. Return to this K-1 and follow these steps to enter the health insurance premiums:
- Click on the Federal Taxes tab
- Click on Wages and Income

- Scroll down to Business Investments and Estate/Trust Income
- Schedules K-1 Click Start or Revisit
- Schedules K-1 or Q screen, Do you want to Review - click Yes
- Tell Us About Your Schedules K-1 screen, click Update by 1065 or 1120S Form

- Click Edit by your K-1
- Click through the screens until you see Other Situations or the Describe this Partnership screen
- Check the box for "I personally paid health insurance..." - Continue
- Enter the amounts requested for this K-1

[plshlp]

I had already been through this section; however, went ahead and ran through it again.  I went ahead and marked the box for "I personally paid health insurance premiums (even though TT says not to if purchased a marketplace plan).  I didn't put in an amount in #1 because it says not to if I purchased a "Marketplace plan" and #2, if I put in an amount in, it doubles it on the schedule a which throws off those numbers.  

[plshlp]

This is the first year I have run into this problem due to the fact that this is the first year I have qualified for any kind of health insurance tax credit through the marketplace (due to change for 2021 and 2022).  I have read where this is a TT problem that they have known about for years.  Also read where I either need to purchase a different tax software or hire a professional which is frustrating since I have been using TT now for over 25 years and have already spent the money for TT.

[JohnB5677]

This thread has traveled through several thought processes, but if you are trying to add self-employed health insurance to the Online version.

In TurboTax Self-Employed Online, the Self-Employment health insurance is not the business section of the return.

You should go to:

1. Income & Expenses
2. Other Business Situations > Show More
3. Self-Employed Health Insurance Paid

[Louie G]

If your deduction is related to a K-1 entity, such as a S-corp, you have to scroll thru the K-1 entry worksheet to find a QuickZoom button for "Health Insurance premiums paid"

 - no other way to find the form !

BY THE Way -- If you have medical premiums reported on your W-2, it does NOT automatically get entered into the appropriate forms that flow to Schedule 1.  Lots of money at stake - now amending 3 yrs returns...