Solved: In error we included healthcare premiums of $7,612.26 as a medical expense when they were pre-tax payments as listed on the W-2 (125 plan).
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
v-con
New Member

In error we included healthcare premiums of $7,612.26 as a medical expense when they were pre-tax payments as listed on the W-2 (125 plan).

The amended Turbo Tax federal results indicated we went from a refund to owing $975. Also PA refund went to $0.00.  When I went to move forward with Turbo Tax it indicated a $2,400 refund with is about $1,200 less than my initial erroneous filing.
1 Best answer

Accepted Solutions
RBBrittain
Level 8

In error we included healthcare premiums of $7,612.26 as a medical expense when they were pre-tax payments as listed on the W-2 (125 plan).

That seems correct, since you claimed an excessive itemized deduction by deducting health insurance premiums that were already "deducted" from W-2 Box 1.

An amended return is an entirely different filing. Your original & amended returns together may still amount to a net refund. However, amending a return to add omitted income *or* (in your case) remove incorrect deductions is likely to result in additional tax due, even if less than your original refund.

View solution in original post

1 Reply
RBBrittain
Level 8

In error we included healthcare premiums of $7,612.26 as a medical expense when they were pre-tax payments as listed on the W-2 (125 plan).

That seems correct, since you claimed an excessive itemized deduction by deducting health insurance premiums that were already "deducted" from W-2 Box 1.

An amended return is an entirely different filing. Your original & amended returns together may still amount to a net refund. However, amending a return to add omitted income *or* (in your case) remove incorrect deductions is likely to result in additional tax due, even if less than your original refund.

View solution in original post

Dynamic AdsDynamic Ads
v
Privacy Settings