Hi,
I have Turbo Tax Home and Business.
I am self employed, I have a net profit, and I have health insurance premiums for me and my family.
I have entered it under Business Income & Expenses, Other Common Business Expenses, Insurance Premiums, Health Insurance Premiums.
After I entered it and hit continue, it shows the total amount I entered, but it doesn't change the overall total expenses line or the net profit line.
For example if the premium was $1000 a month, the total would be $12,000.
Say my expenses total $4000 before the premiums -- once entered and saved, it should bring my total expenses to $16,000 correct?
If the self employment income was $50,000, the expenses lower the net profit to $34,000 right?
When I enter it on Turbo Tax, the amount of the insurance premium did not change the total of the expenses and therefor did not impact the net profit for some reason.
Is there something I am doing wrong? Or am I misunderstanding something? Or is Turbo Tax not calculating this correctly?
Thanks in advance for any help and insight.
