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Get your taxes done using TurboTax
I just spent 3+ hours with Turbo Tax plus countless of my own hours trying to get 1095-A reporting, Premium Tax Credit, Schedule 1 of 1040 and Schedule A to work (Desktop version). It STILL didn't work even after over 1 1/2 hours with a TT CPA trying to get it to work. I too have used TT for many many years, and I have been a tax preparer myself. I followed the TT instructions for self-employed health insurance premium payments through the marketplace. TT created a phantom number and footnote on Form 7206, the SE Health Insurance Deduction worksheet. Also form 7206 did not appear in my side menu, it was invisible. it was by seeing a reference to that form on this forum that I found it. Short version of story: TT CPA did some research on her own, contacted her contacts at TT to tell them what is going on. Her colleagues didn't believe her when she told them the calculation was simply not working and that there was a mystery number that was included in the calculations. There was no way to override, or even right click on fields to find source of calculations like there used to be. TT CPA could not convince her colleagues that that is what was happening even though she saw it by viewing my screen. TT CPA was wonderful, sticking it out until we found a workaround that appeared to work correctly, at least for 1040 Schedule I (unlink 1095-A from business, enter health insurance premiums on C, zero out 7206), That deduction was correct and the Premium Tax credit calc and Schedule C all appeared correct (total deductions on C ignored health ins premiums which is correct). That was late last night, so I put it aside until this morning to double-check before filing. it's good that I did because although everything else is correct, the health insurance premiums now show up on Schedule A too! There is something wrong with these calculations. The fact that TT knew about this last year and didn't fix it is very concerning. I just happened to know what to look for. (Oh, and running a review always showed "no errors.") I ended up entering a negative number equal to my insurance premiums on Schedule A on a line in the worksheet that is for "additional medical expenses." That zeroed out TT's error and made my Schedule A correct. Wish I could tell the TT CPA I worked with about this. She said she was going to run my scenario on her desktop and show her colleagues what is going on. She doesn't know about the Schedule A issue though since I discovered that after we hung up. Hope she sees it and that everything is fixed for next year.