I completed the preparation of my taxes and Turbotax generated a $6,000 deduction on line 17 of Schedule 1 for self-employed health insurance. That deduction amount appears to be correct. However, on form 7206, the amount of health insurance premiums on line 1 is blank and the amount of the deduction listed on line 14 of the form is 0. The line 14 instructions on Form 7206 specifically state that the amount listed there should also be listed on line 17 of schedule 1. So, there is a conflict between the amount on line 14 of Form 7206 and the amount on line 17 of schedule 1. Since the Turbotax program generates these numbers, it appears to me that there is a glitch in the program that requires correction, so that a possible audit is not triggered. Please advise.
I would also note that you can only see form 7206 as submitted to the IRS when going to the preview in the "Print center" section of the program. When I open up form 7206 under schedule C in "forms in my return" it gives me a worksheet version of this form, including a note added at the bottom that there is a $6,000 adjustment for premiums paid through an exchange that does not appear on the worksheet. However, even that explanatory note is not included on the 7206 form filed with the IRS.
