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Insurance premiums

I entered my health premiums in the business expenses area as I am self employed.  I also entered 1095 info even though I do not get a premium credit.  It now looks like I am getting double credit for these premiums in schedule A .. Software gives allowance/offset for some of premium vs profit from my self-employment but Schedule A worksheet Line 1 seems to include 1095 amount as well as unused self-employment premium.  Thoughts?

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3 Replies
DavidS127
Expert Alumni

Insurance premiums

When you enter your 1095-A in the health insurance section, and answer the question about whether you are self-employed, TurboTax will ask you to link your 1095-A to your business and complete the entries for the self-employed health insurance deduction.  Your other entry during the self-employed interview questions may have created a duplicate entry, and deleting that entry may solve the issue.

 

The TurboTax navigation questions aside, the "right" answer is that the premiums are deductible as self-employment health insurance to the extent you have self-employment income, with any remaining premium deductible on Schedule A.  So, as a workaround, you could eliminate the duplicate premiums by deleting or entering a negative number to offset the duplication in the Medical section.

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Insurance premiums

How do I change an entry in the self-employed interview?  When I go back to that section and click on self-employed health insurance, I only get a message that a "deduction has already been calculated".  To change any amounts, I am instructed to go back to the topic where I entered the premium, which is what I did to get this message.  Seems like I am caught in a loop.

Thank you

MayaD
Expert Alumni

Insurance premiums

If you entered your 1095-A in the health section and again in the Self employment section, delete your health Insurance from the self employment section by following the steps below:

  1. Log in to your account.
  2. Go to Income and Expenses.
  3. Click review next Self-employment income and expenses
  4. on the screen Your 2019 self-employed work summary click review.
  5. Scroll down to Expenses and select delete next to Health Insurance.
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