I am self employed (sole proprietor LLC, taxed as a disregarded entity) and have had this business for many years. I have also had health insurance from Ambetter, but it is apparently a marketplace plan as I receive a 1095-A each year. I have done my taxes in TurboTax for many years.
This year, I entered my 1095-A numbers in TT just like I did last year, and a premium credit was calculated, similar to last year. Last year's credit was shown on last year's return 8962 form that TT generated. This year's return also generated an 8962 with this year's tax credit shown on it.
As a result, in TT on the "Business Income and Expenses" page where it lists each category and shows 2023 and 2024 numbers next to each other, the numbers all make sense to me. Each category that has a 2023 value also has a new 2024 value. Of course they are different, but both years have values for the same categories, as is expected as my business had the same income and expense categories. The other categories all have zeros in both years, as expected.
However, in TT on the "Personal tab - Deductions and Credits" section, there is only one difference between the 2023 and 2024 columns that I can't reconcile. The "Affordable Care Act" category has a $0 value in 2023, but a value in the 2024 column which matches the total Premium Tax Credit calculated on the 8962 form. Even though I entered a 1095-A in 2023 and the 2023 TT generated an 8962 form with a premium tax credit value similar to 2024, that value is not shown in the "Affordable Care Act" category like the 2024 value is.
Why would this difference occur? My concern is that I've somehow double-counted the premium tax credit somewhere in this year's TT; i.e. perhaps it's also included in some other number and the Affordable Care Act category should be zero like last year. But since I had a 1095-A form sent to me both years, and I entered them both as directed by TT each year, I feel like it should be correct. I just don't understand the difference on the summary page for Personal Deductions and Credits from 2023 ($0) and 2024 (the value from the 8962 form).
Thanks for any assistance you can provide.
