We acquired our healthcare coverage from the exchange hence were issued a 1095-A to reflect that. My impression from TurboTax is we cannot deduct the premiums under my wife's business (self employed) because our premiums are reported on 1095-A. This does not make sense. Am I misunderstanding TurboTax? Any guidance is appreciated.
Self-employed health insurance deduction goes on Form 1040 Schedule 1 line 16 then to 1040 line 8a, as long as the expense is not greater than your net self-employment income. If it does exceed your net self-employment income it gets split automatically. An amount equal to your net self-employment income goes on Form 1040 Schedule 1 line 16, and the remainder gets added in to medical expenses on Schedule A.
BUT do not enter any Health Care Marketplace insurance you bought. If you enter the 1095-A and select the "Self-employed and bought a Marketplace plan" box, it will automatically include those premiums in the SE Health Insurance section. So you shouldn't enter it again on schedule C.
For Schedule C, enter your 1095-A in the normal section. You will see the two screens below.
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