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Dlreynolds02
Returning Member

Known Error - Turbo tax does not have a place to enter personally paid monthly premiums with the 1095-A or 8962 forms - and charges my tax return for premiums I already paid

Hi 

I spoke with Turbotax support over a month ago about this error. They claimed they know about it and are working on it. It took me 30-minutes of re-explaining the error, across turbotax entry and the two forms, for the tech to know what I was talking about... However, checking back it appears the error still isn't fixed (3/21/23) and the tax deadline is fast approaching. I am positive that all of us who paid the "remainder of the premium" (like ACA forces us to pay) each month to zero out the difference from what the government pays and what we are charged for the full premium - are NOT getting credit for our payments in Turbotax. This is currently costing me an extra $500 or more in direct taxes on my tax return, because Turbotax has no place to enter my personally paid monthly premiums ($156). Turbotax ONLY calculates the 1095-A sent by the government, which does NOT list the premiums I paid all year and then charges me for the difference 

Does anyone know a work around for this problem? I've looked and cannot find one. 

Turbotax - When will you have this error fixed? I do NOT want to miss the tax deadline. 

Thank you in advance for the help!  

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1 Reply
dmertz
Level 15

Known Error - Turbo tax does not have a place to enter personally paid monthly premiums with the 1095-A or 8962 forms - and charges my tax return for premiums I already paid

There is no bug.  The amount that you paid out of pocket for insurance premiums is a qualified medical expense, reportable on Schedule A and nowhere else.  It is unrelated to anything reported on Form 1095-A or Form 8962 which are used only for reconciling any difference between the amount of PTC you received and the amount of PTC you were actually eligible to receive.  If your medical expenses do not exceed 7.5% of your AGI or you do not itemize deductions, the amount you paid out of pocket for insurance is not deductible.

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