1048575
I have Turbotax Home and Business. In the business section, I entered my health insurance premiums in the business expense portion. Now, I am working on the personal side and it is also telling me to enter them there. An example given was if you were self-employed. I'm confused on why I am entering it in both places and it did cause my tax amount to go down on the second entry. It says this on info:
"Your $11,546 of total medical expenses comes from adding up your $410 of prescription medication, your $7,881 of medical insurance premiums, your $3,112 of self-employed health insurance not yet deducted, your $82 of eye care expenses, your $0 of long-term care expenses, your $0 of x-ray and lab work fees, your $0 of medical facility fees, your $45 of medical professional fees, your $16 of medical travel expenses, your $0 of medical equipment and supplies expenses, and your $0 of net premiums from 1095-A after adjustments."
Is this correct or should it not be entered on the personal side even though it says it should be???
Thank you!
Vicki
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You would just enter the health insurance premiums in the business section if all of your insurance was allowable as self-employed health insurance. It is possible to have both self-employed health insurance and non-self employed insurance, if you were only self-employed for part of the year for instance.
Also, you can only deduct self-employed health insurance to the extent you have self-employment income. So, part of your insurance may show up in the personal section even if you entered it in the business section.
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