So some reason Turbo Tax is putting in a number for medical expenses when we don't use schedule A. It is pulling a number from 1095-A. Never happened before this last update. So it is taking that number OFF my deduction. Please fix.
If nothing else changed on your tax return, it is weird why it changed from the prior result.
The probable reason why it is doing that in the first place is because the calculation for Self Employed Health Insurance in combination with the Premium Tax Credit is rather complex. Quite frequently, that calculation can not come up with a 'final' answer, and has an amount left over. The program does not know what to do with the 'left over' amount, so it puts it on Schedule A.
If the change to Self Employed Health Insurance is large, one consideration is to change some amounts on the tax return, such as changing how some new items are being depreciated or make a contribution to a Traditional IRA. Those changes will restart the calculation, and the calculation might be able to find a 'final' answer that doesn't have any 'left over' amount.
I recommend reviewing your input as follows to correct the issue. We cannot adjust your return as this is an online public forum.
How do I enter self-employed health insurance premiums
Please be aware, you can only deduct them on your Schedule C if you have a profit. If you do not, any excess is would be reported on Schedule A as an itemized deduction.
Deducting Self-Employed Health Insurance Premiums
If you are still having issues, you may need to contact us for assistance using the link below.
Yea I am entering it right, the software is messing up. Was fine since Jan., but the last update broke something. I will wait for next update or use that form. Thanks!
Was anything else changed on your tax return by the update (for example, making unemployment non taxable)?
If nothing else changed on your tax return, it is weird why it changed from the prior result.
The probable reason why it is doing that in the first place is because the calculation for Self Employed Health Insurance in combination with the Premium Tax Credit is rather complex. Quite frequently, that calculation can not come up with a 'final' answer, and has an amount left over. The program does not know what to do with the 'left over' amount, so it puts it on Schedule A.
If the change to Self Employed Health Insurance is large, one consideration is to change some amounts on the tax return, such as changing how some new items are being depreciated or make a contribution to a Traditional IRA. Those changes will restart the calculation, and the calculation might be able to find a 'final' answer that doesn't have any 'left over' amount.