I'm self-employed and got health insurance through the marketplace in 2019. My 24 year-old son was covered for January, then he was covered by employer insurance. He files separately. I had a premium tax credit of $250 to pay back for that month. We decided to make it 100% mine and 0% his. Then he e-filed his taxes. I ran the error check on mine, and it says for Form 1095-A: "Shared Policy Adv PRC Pct policy allocarions for a Form 1095-A linked to a business, Business Related Premiums Smart Worksheet below are not supported."
Key background:
I am self-employed and have a net profit.
My son is 24 and already filed his return.
The insurance plan is under my name.
I'm not sure how to fix my taxes. Will it really not count as a business deduction?
Thank you.
