I accidentally entered Self-Employed Health Insurance, when I actually have a Marketplace plan. I removed it in Forms view, but it still includes it in my Personal wizard

Forum|Forum|6 years ago
March 23, 2020
1 reply
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TurboTax Online

Best answer by DavidS127

Your Marketplace plan is eligible for the self-employed health insurance deduction. When you enter your 1095-A in the health insurance section, and answer the question about whether you are self-employed, TurboTax will ask you to link your 1095-A to your business and complete the entries for the self-employed health insurance deduction. The Marketplace premiums you paid are deductible as self-employment health insurance to the extent you have self-employment income, with any remaining premium deductible on Schedule A. So, as long as you are getting the self-employed health insurance deduction only once your tax return is correct. In other words, the total self-employment health insurance deduction + amount transferred to Schedule A should equal the marketplace premiums you paid.

But, your other entry during the self-employed interview questions may have created a duplicate entry, and deleting that entry may solve the issue.

If this does not address your issue, additional details may help diagnose the issue.

DavidS127Answer

Level 13

Your Marketplace plan is eligible for the self-employed health insurance deduction. When you enter your 1095-A in the health insurance section, and answer the question about whether you are self-employed, TurboTax will ask you to link your 1095-A to your business and complete the entries for the self-employed health insurance deduction. The Marketplace premiums you paid are deductible as self-employment health insurance to the extent you have self-employment income, with any remaining premium deductible on Schedule A. So, as long as you are getting the self-employed health insurance deduction only once your tax return is correct. In other words, the total self-employment health insurance deduction + amount transferred to Schedule A should equal the marketplace premiums you paid.

But, your other entry during the self-employed interview questions may have created a duplicate entry, and deleting that entry may solve the issue.

If this does not address your issue, additional details may help diagnose the issue.

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S

sarah33Author

Level 2

Actually, I'm not asking about Marketplace premiums, but Medicare Part B premiums that are automatically withheld from my husband's social security benefits. I understand that these qualify as self-employed health insurance payments. My husband is self-employed, and we will not be filing a Schedule A to itemize deductions. I am wondering where to list self-employed health insurance payments in turbotax.

I

Irene2805

Level 15

Premiums for health insurance and long-term care insurance are not deducted on Schedule C. Instead, they are shown as a deduction from your gross income on line 16 of Schedule 1 on form 1040 [self-employed health insurance deduction].

To enter your self-employed health insurance deduction please follow these steps:

TurboTax CD/Download

On the Here’s your [business info screen, click on Update next to your business.
On the screen, Your [XX] Business, in the Business Expenses section, click the Start/Update box next to Other Common Business Expenses.
Click the Start/Update box next to Insurance Payments.
Click the box next to the type of insurance premiums you wish to enter (in your case, Health Insurance Premiums).

Turboax Online

Click on Income and Expenses and then click the Start/Revisit box in the Self-Employment section.
On the Here's your [business] info screen, click on the box Add expenses for this work.
On the Tell us about any expenses screen, scroll down through the categories, mark an appropriate radio button next to Health Insurance Premiums and click Continue at the bottom of the screen.
Enter the total health insurance premiums paid on the next screen, Tell us about health insurance premiums…