- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Self employed
This makes no sense whatsoever. Why in the world is TT making that adjustment? At the bottom of Form 7206 it says the deduction for self-employed health insurance is the LESSER of box 13 and 14. In my case, that is $5,264. That additional adjustment mentioned at the bottom of 7206 ignores the "lesser of" instruction and selects the higher number in box 13, $12,672 in my case.
The adjustment TT is making has the effect of cancelling out any possible health insurance deduction. The calculation makes the deduction zero in every case. I could see if my excess PTC of $2,644 was used as the offset, but it's not.
‎February 28, 2025
7:41 AM