I am also using TurboTax Home and Business, but I can't figure out why Schedule 1, Line 16, Self-Employed Health Insurance Deduction is showing a small non-zero number (5) when I believe it should be 0.
I entered my 1095-A information separately, and when I trace the "Health Insurance Premiums" under the Schedule C - Business Expenses section, the fields are all blanked out. When I switch to form mode, I see the value "5" for Line 16, but I can't edit it. In turn, I trace the value to Form 1040/1040SR Wks, Line 16 and see "5" again, but can't edit. If I drill down to the "Data Source", the explanation says:
"Schedule C (Dance Instruction & Entertainment) -- SE Health and LTC Insurance Dedn Wks SE Hlth & LTC Ins. ded 0.
Schedule F (Untitled) -- SE Health and LTC Insurance Dedn Wks SE Hlth & LTC Ins. ded
Sch K-1 Wks-Partnerships (Untitled) -- SE Health and LTC Insurance Dedn Wks SE Hlth & LTC Ins. ded
Sch K-1 Wks-S Corporations (Untitled) -- SE Health and LTC Insurance Dedn Wks SE Hlth & LTC Ins. ded
plus:
Any self-employed health insurance deduction attributable to premiums entered on Form 1095-A and linked to an activity. This adjustment, if any, will appear in a text field at the bottom of any Self-Employed Health Insurance Deduction Worksheet."
I *did* pay about $16 of health insurance premiums out of pocket toward my self-employed marketplace plan in 2019, but am getting a $16 Premium Tax Credit that I believe covers that. I'm assuming TurboTax is computing the $5 as the "adjustment".
Can someone clarify this calculation? Does it have something to do with my previous year taxes?
