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Schedule 1

Why on schedule1 line 17 has an amount, but my spa's tax program calculates a number? What am I missing on turbo Tax?

 

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2 Replies
ColeenD3
Expert Alumni

Schedule 1

You need to enter the amount of self-employed health insurance that you paid.

 

Self-employed health insurance deduction

  • To get this deduction, your Schedule C must show a net profit.
  • The deduction amount generally can't exceed your net profit amount.
  • If you (or your spouse if filing jointly) were eligible to participate in an employer's health plan during any given month—even if you declined the coverage—the premium you paid for that month can't be claimed under this deduction.
  • Health insurance premiums you paid for your child, even if you aren't claiming them as a dependent, are eligible for this deduction as long as your child was age 26 or younger at the end of 2021.
  • The self-employed health insurance deduction shows up on Schedule 1, line 17.

Go to the Business Income and Expense subcategory.

  1. Choose the option "I'll choose what I work on"
  2. On the screen labeled "Let's gather your business info", find the section labeled "Less Common Business Situations".
  3. Click start or update next to the line labeled Self-employed Health Insurance.

 

 

Schedule 1

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