BillM223
Expert Alumni

Get your taxes done using TurboTax

"When working on my taxes it specifically reads Don't include premiums for: an Affordable Care Act plan (also known as Obamacare)."

 

Yes, this is correct - you do not enter these health insurance premiums in the Schedule C interview. This is what this instruction is referring to.

 

Instead, as HollyP explained, you enter the form 1095-A that you got from the Marketplace, and after you do that, you are asked if this policy should be connected to a Schedule C. When you say yes, then the proper amount of the premiums are automatically carried to Schedule C.

 

Please reread her second paragraph again carefully.

 

By the way, "The insurance was out of my pocket, pre tax." - Please note that out-of -pocket expenses are after-tax, not pre-tax.

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