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Yes, as of a few days ago the Keogh, SEP and SIMPLE Contribution Worksheet has been properly updated in 2020 TurboTax to reflect all of the correct cost-of-living-adjusted amounts for 2020. If you are using the CD/download version of TurboTax, make sure that you have installed the latest update.
Thanks for that response. But I still need help entering my wife's self employment medical insurance premiums. i just cant get to a screen to input the amount. I've looked at the instructions and still can't get anything to work.
Thanks
Ron
Self-employed medical insurance premiums are entered through the Schedule C section of your return.
Premiums may be deducted for the sole-proprietor (your wife), you, and your dependents unless the insurance was purchased through a Health Insurance Marketplace or if you or your spouse were qualified to be covered under an employer health plan.
If you are using the TurboTax Online Self-Employed version, look in the Less Common Expenses section of the Schedule C. Once you have expanded that section, look for the Health Insurance Premiums category to enter your information.
If you are using the CD/downloaded Home and Business version of TurboTax, you will find the entry in the Schedule C section, then Business Expenses > Other Common Business Expenses > Insurance Payments > Health Insurance Premiums.
Entering as AnnetteB6 correctly described, the deduction will appear on Schedule 1 line 16 as a personal above-the-line deduction. It is not deductible as a business expense even though that's the section in TurboTax where you must make the entry.
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