I'm getting a "Check This Entry" message which points to line 5a in the Qualified Business Income Deduction Smart Worksheet. Why won't program accept the value I enter?

[AliciaP1]

Can you clarify which version of TurboTax you are using?

[moxieman]

Hi, I'm using Home & Business desktop PC.

[AliciaP1]

You haven't answered the questions on lines D1 and D2.  You can do this in this form.

Also, you need to enter the portion of your Self-Employed Health Insurance Deduction you are claiming for this business.  The explanation at the top of the screen does point out that you have multiple 1095-A forms associated with multiple businesses in your return.  The system needs to know how much you are allocating to each business.

[moxieman]

Thanks.  I will look into the D1 and D2 questions.

TurboTax says I have 0 SE health insurance deductions.  I have credits, which I tried to apply in E5a but the values were not accepted.  (Neither was  a value of "0 accepted.")

[moxieman]

Hi, I'm still stuck on this, and could really use some advice.

I've answered the questions on line D1 and D2 on the Qualified Business Income Deduction Smart Worksheet.  No matter what value I enter into line E5a I get the "Check This Entry" message.  I've tried entering $0, which is what the program shows for "Self-Employed Health Insurance" Deduction (see attached).  I've tried entering $3697, which is the amount I actually paid for my health insurance.  I've tried entering $4824, which is my share of the  Health Insurance Premium Tax Credit my wife and I received.

Can I just ignore this error?  After all , the worksheet states: "Completing this worksheet is generally only necessary if Form 8995A must be filed (i.e., taxable income is above threshold amounts . . ." 

My taxable income is not above threshold amounts, and Form 8995A is not being filed (it is not in the list of forms).

Any help would be greatly appreciated.  Thanks.

[AliciaP1]

The deduction is hanging up because you have multiple businesses associated with multiple 1095-As  and have not allocated your deduction between businesses.

In TurboTax Home and Business please follow these steps:

1. Within your tax return use the magnifying glass icon to search for 1095-A and use the Jump to link
2. Answer the questions and Continue until you get to the Which business was associated with this policy screen
3. Choose the business and assign the beginning and ending months
4. Repeat this process for each 1095A
5. Click the Federal Review and proceed until you get to the Health insurance and the Qualified Business Income deduction screen
6. Allocate the deduction amount to the businesses as you want them to be reported

@moxieman

[moxieman]

I appreciate you trying to help.  I've already taken the steps you recommend, and I went through them again just now to be sure.  The Qualified Business Income deduction worksheet still will not accept any value I enter, even though I've linked each 1095-A to its respective business.   I've entered "$0," I've entered the respective 1095-A amounts, and I've entered the premiums we actually paid.  Running Smart Check always brings me back to the "Check the entry" screen showing the worksheet.

I believe the issue is that because we ended up qualifying for more premium tax credit than we expected, we ended up essentially being reimbursed, via the Premium Tax Credit at filing, for all the premiums we paid.  (The monthly advance payment of premium credits in 2021 was significantly less than what we ended up qualifying for, due to covid-related changes).  This resulted in us being unable to claim any deduction for health insurance premiums we paid ourselves (because we will receive credits instead).

Does that make sense?

[moxieman]

The amount of premiums I actually paid was $6746.  My Premium Tax Creidt at filing is $6740.  So the credit cancels the deduction out?

I meant to attach this:

[AliciaP1]

Yes, that makes sense and is the correct perspective.  Since you are claiming the Premium Tax Credit and it is nearly the same amount as the premiums themselves, you cannot take the Self-Employed Health Deduction.  

In order to get around this to get your returns filed, you should change your response to the Let us know if these situations apply to you screen and uncheck the I'm self-employed... statement.  Repeat this for the other 1095-A(s).

@moxieman

[moxieman]

Thank you for sticking with me to find a workaround for this glitch.  Much appreciated.