topic TT2024 home and Bus Form 7206 in Get your taxes done using TurboTax

TT2024 home and Bus Form 7206

ratjunk — Thu, 30 Jan 2025 00:44:09 GMT

Will TT2024 home and Bus Form 7206 be supported for efile?

Re: TT2024 home and Bus Form 7206

RobertB4444 — Thu, 30 Jan 2025 00:47:11 GMT

Yes, but not until at least February 7th. In the meantime here is a wonderful TurboTax article on the form to review while you wait.

@ratjunk

Re: TT2024 home and Bus Form 7206

ratjunk — Thu, 30 Jan 2025 00:53:16 GMT

Thks for your reply. I am familiar with the issues that have taken place last year re: 7206. The ttax schedule availability for windows desktop ttax efile states "unsupported" and does not mention 2.8. Am I looking in the wrong place for this info?

Re: TT2024 home and Bus Form 7206

ratjunk — Thu, 30 Jan 2025 00:55:48 GMT

I am addressing filing from the desktop app via efile. And I really meant 2.8.2025. Sorry for my confusion.

Re: TT2024 home and Bus Form 7206

DawnC — Thu, 30 Jan 2025 01:38:58 GMT

You are in the right place, and not confused. The forms availability tool does show that Form 7206 is ready for e-file in TurboTax Online, but shows as unsupported for the desktop versions. So, as of this moment, it looks like TurboTax desktop won't e-file the form, but TurboTax Online will. However, things may change, so you may want to hold off filing for a bit, in case it does change. 🤞

Re: TT2024 home and Bus Form 7206

Jack05 — Fri, 31 Jan 2025 00:25:23 GMT

I am using TurboTax Premier on line. When I enter my self employed health insurance premiums it won't let me enter the medicare wages on line 11 so it can calculate the deductible amount. Also, the amount of the premiums is reducing tax liability but not going to Schedule 1, line 17. Instead, it is showing up under the general medical expense itemized deduction. Something is wrong with this form

Re: TT2024 home and Bus Form 7206

DawnC — Fri, 31 Jan 2025 02:23:58 GMT

I would like to take a deeper look at this issue with Form 7206. However, I need a diagnostic file which is a copy of your tax return that has all of your personal information removed (sanitized). You can send one to us, from TurboTax Online by following the directions below:

Sign into your online account.
Locate the Tax Tools on the left-hand side of the screen.
A drop-down will appear. Select Tools
On the pop-up screen, click on Share my file with agent.
This will generate a message that a diagnostic file gets sanitized and transmitted to us.
Please provide the Token Number that was generated in a reply to this message. Thank you!

@Jack05

Re: TT2024 home and Bus Form 7206

Jack05 — Fri, 31 Jan 2025 18:51:47 GMT

I don't see a token number anywhere. When I go into turbotax to send tax data to agent, no opportunity to enter a token number.

Re: TT2024 home and Bus Form 7206

Jack05 — Fri, 31 Jan 2025 20:55:54 GMT

Sorry, I have the token number now.

102129847-33974307

Re: TT2024 home and Bus Form 7206

KrisD15 — Fri, 31 Jan 2025 19:50:50 GMT

The token number that is generated for you in your TurboTax program should be sent to us through this thread.

It is safe, only we can use the token number, and even when we use it to see your situation, we do not see any personal information.

@Jack05

Re: TT2024 home and Bus Form 7206

DawnC — Sat, 01 Feb 2025 01:37:32 GMT

Thank you for providing the token, @Jack05. Someone will follow up after we take a deeper dive!

Re: TT2024 home and Bus Form 7206

Jack05 — Wed, 05 Feb 2025 23:39:05 GMT

Has anyone looked into this problem?

Re: TT2024 home and Bus Form 7206

DawnC — Thu, 06 Feb 2025 03:32:04 GMT

In order to get your self-employed health insurance premiums/medicare wages reported on Form 7206 and Line 17 of Schedule 1, the premiums have to be entered from either:

Sole Proprietorships - Schedule C with profit - see instructions
Partners - K-1 - code M in Box 13 - see instructions
S-corp shareholders - check the I personally paid health ins premiums box - see instructions

@Jack05 -

Re: TT2024 home and Bus Form 7206

Jack05 — Sat, 08 Feb 2025 19:38:55 GMT

Ok. I'll wait to get my K-1 and then try again.

Thanks for your help