In regards to the self-employed health insurance expense, I entered all the information under the affordable care act section in TurboTax deductions. Since I have the Scorp election the premiums are included in my W2 wages and there is no schedule C for the business. When I go to the section business deductions and credits it states the following “Do not include health insurance purchased through a Health Insurance Marketplace (also known as an exchange). These premiums are entered on Form 1095-A in the program.” When the credits for the 1095a are calculated I don’t end up paying anything for the medical premiums, I am getting it all back as a refund since I didn’t take any advance premium tax credits. Should I be including something in business deductions and credits self-employed health insurance paid?
I am little confused on how to do the shared policy allocation.
On my tax return, I entered all the information from the 1095A for the entire year and the same for the SLCSP amounts. Then I indicated I shared the policy with someone not on my return, entered their ssn, selected allocation start and stop as January to June, selected 100% for Premium Percentage and 100% for SLCSP Percentage and it seems to show the correct refund.
For my daughters return, do I enter the same 1095A amounts and SLCSP premiums for the entire year or just for January to June when she was on the policy. Then if I put the amounts for the whole year do I select Shared policy and put my ssn and select January to December and enter 0% for the allocations. And if I enter 1095A amounts for just January to June do I select January to June for the allocations and enter 0%
Where I am confused is that doing the steps above seem to get the correct refunds but they don’t take into account any of my daughters income for the year. Is that the way it should work?
Thanks for your assistance
