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Health Insurance Deduction - Turbo Tax confusion (feedback)
I don't know if this is a good place to post this - TT used to have a direct feedback within the program.
Under itemization, medical expenses, when entering insurance premiums, it says to not include pretax deductions from an employer or self-employment premiums. Neither is the case for me so I entered them, though in the end it did the standard deduction. Everything seemed fine until I got towards the end when it suddenly increased my refund by a huge amount and it made no sense.
So looking in forms view, I discovered it had itemized deductions and had a way bigger amount in the medical expenses than I really had. It took some time, but I finally figured out that was because it had automagically added my premiums in when it did the Premium Tax Credit (8962), so it essentially doubled the number!
The instructions for Sch. A specifically say in that case you should do 8962 first, and then use that for itemizing, and yet Turbo Tax does this the other way around, with the user unaware. When entering medical, it should add to the "don't enter here" instruction to not enter it if you're getting the PTC. If it says anything, it sure is not obvious, and it needs to be!
Fortunately I'm someone who watches out for things so that I can catch these issues, and am able to find what the problem is. But it's still a waste of my time. But many people would not have had a clue and have to wait til the IRS catches it. TT needs to be very clear about this!!
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I don't see a way to edit. Sorry - CD Basic version.
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In the medical section, there is a note to not include insurance premiums paid via paycheck, self-employed premiums, or premiums paid through the Healthcare.gov site. Can you attach a picture of the section you are seeing?
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Thanks for your response, but mine does not have that. I can't insert an image because I don't see a way to upload anything. But it only has the first part of that sentence, that ends right before the "or." And I did update it just the night before.
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I just noticed on your screenprint that it has "Jon's" long-term care premiums, etc. where it's inserting the person's name. Mine doesn't do that either. (Obviously not something important, but it's proving they aren't using the same things in all versions.)
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Interesting. Thank you for the feedback I will pass it along.
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Ok. I noted that as well.
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Thanks, Paula - I appreciate it. (Sorry for such a delayed response. I always have difficult on these forums finding my way back to anything.)
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I encountered the same issue today and had to delete the additional number from line 2a on the schedule A medical expenses worksheet. This was necessary after entering all info from forms 1095-A and SSA 1099 (medicare premiums).
One would think that TT fixed this issue by now. Suggest to double check the upcoming 2018 version, just in case.