The deduction on Schedule 1 for SE Health Insurance Deduction doesn't match what I had input into Form 7206 via TurboTax step by step questionnaire for Business Expenses. It appears to be adding the amounts from Form 1095-A (Monthly Enrollment Premiums), which are included in my inputs for Form 7206, so it appears that the deduction on my Schedule 1 and 1040 is too high, almost double what it should be. Is there a way to manually correct this? How do I ensure I am not overstating the amount of my allowed SE Health Insurance Deduction?
You'll need to sign in or create an account to connect with an expert.
Yes, the 1095-A amounts are automatically transferred to the self-employed health insurance amounts. If you entered them manually, you will need to delete those entries and just let the amounts from the 109-A entries transfer to the self-employed health insurance amounts.
Thanks for your quick response! However, the amounts from 1095-A only reflect the premiums for medical coverage that I paid through the Marketplace, not the full amount of coverage premiums I paid, including dental coverage, etc. Do I input the incremental amount manually through Business Expenses so that the combination of the 1095-A plus the 7206 amount is the correct total amount of premium deduction? Or is there a more appropriate way to handle?
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
frankhackett
New Member
Susan80
Level 3
Guitarplayer1969
Returning Member
mimi01
Level 1
install4you
Level 2