The short answer is yes, but TurboTax does the work for you. When you enter this information in the federal interview, TurboTax asks about self-employment (see screenshot). TurboTax will automatically take the surplus and enter it as self-employment health insurance which will go on line 29 of Schedule 1 (adjustments to income). It is subtracted before your adjusted gross income is computed. Along with some other items, Schedule 1 flows to the 1040 on line 6.
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