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New Member
posted Feb 9, 2024 8:32:30 PM

Health Insurance

I am self-employed and a W2 employee (part time). I deduct what I pay for my health insurance from my business expense, but last year I had monthly advanced payment of premium tax credit of 110.84. Therefore, I paid 189.40 per month and on turbo tax added that (2272) for health insurance business expenses. I then entered the 1095-A coverage information to turbo tax to calculate what pay back I need to do as well. It appears that turbo tax is doubling my insurance with the info from the 1090 rather than just the difference that I owe. 

 

Should I not be entering the premiums I paid as a business expense and only include the 1095-A, and if so how do I calculate the 1095 A as a business expense? Other sources I see say that health insurance premiums can be added as a business expense. 

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1 Replies
Expert Alumni
Feb 12, 2024 1:23:52 PM

Because you are self-employed the system will carry the deduction over for you from the 1095-A entry screen.  There is no need to enter the deduction a second time.

 

@annas1