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Schedule 1, Line 17 incorrectly adding rounded monthly insurance premiums (instead of adding monthly premiums first and then rounding)
Schedule 1, Line 17 is linked to my 1095-A. Per my 1095-A, I paid monthly premiums of $412.29. Multiply by 12 months, the amount should be $4,947.48 (rounded down to $4,947).
However, my Schedule 1, Line 17 says $4,944. Apparently, Turbotax is rounding down the monthly premium of $412.29 to $412.00, then multiplying by 12, resulting in $4,944. It's "only" a $3 difference and probably inconsequential in terms of tax owed, but it would be nice if the program reported the correct amount on Schedule 1, Line 17.
Notably, the correct amount ($4,947) is reported on Line 11(a) on Form 8962. It would be nice if the program could do the same for Schedule 1, Line 17.
‎February 25, 2024
11:49 AM