Deductions & credits

Arewedoneyet,

 

I think TT is trying to do an iterative calculation to deal with the recursive issue resulting from interplay between premium tax credit (even if that is zero) and self-employed health insurance deduction and AGI.

 

1. In the memo at the bottom of "Self-Employed Health and Long-term Care Insurance Deduction Worksheet" they are showing the result of their (incorrect in my case) iterative solution PLUS the sum in column A of Form 1095. 

 

2. AND... Their iterative calculation is incorrect in fringe cases. See here: When TurboTax and H&R Block Give Self-Employed Wrong ACA Subsidy (thefinancebuff.com) and here: Self-Employed ACA Subsidy Calculator - The Finance Buff.

 

Your solution ("I believe TurboxTax should be ignoring the information in Form 1095A and should only pay attention to the health insurance premium amount included in box 1 of the employee's W2.") will not solve the problem for my case, but an ability to override line 16 with the result derived from Financial Buff calculator WILL. Unfortunately, I can't do that. 

 

Hope my use case might help you, or someone else.