You will not be able to e-file if you have an Override on your income tax return. Delete what you've entered and see the instructions below.
TurboTax will
automatically take the difference not allowed per your Schedule C and carry it
to your Schedule A, Itemized Deductions.
TurboTax will check to
see if you qualify for one or both of the deductions after you enter your
premiums in the self-employed business expense section or the Health Insurance
section if you received a 1095-A.
To enter your health insurance premiums, including Medicare, in the self-employed section of TurboTax:
- Type self-employed health insurance
deduction in the search bar.
- Click Jump to self-employed health
insurance deduction. See the screenshot below.
- Continue the onscreen interview until you get
to the Enter Your Business Expenses, choose Self-Employed
Health Insurance Premiums.
Self-employed
health insurance deduction, Form 1040, line 29
- The deduction is generally limited to your net
profit from your
self-employment (or your self-employed earnings as a partner or your paid wages
as a shareholder in an S corporation).
- You can't include premiums for any month you
were also eligible to participate in any subsidized health plan maintained by
any employer of you, your spouse, your dependent or your child who was under
age 27 at the end of the tax year.
- Your child (under age 27 at the end of the tax
year) can be included even if they aren’t your dependent.
Medical
and Dental Expenses on Schedule A, Itemized Deductions
- Premium amount is reduced by any
self-employed health insurance deduction you claimed.
- You can't deduct insurance premiums paid with
pretax or tax-free dollars.
