1095 A not populating or giving premium tax credit

[Deanmhoward3]

Hi Folks,

I took a look at the reviews on similar questions and I  still can't get anything to adjust.  I have a schedule C and overpaid my premiums and the software won't populate anything in the 1095 A area which would normally give me the tax credit and show up on my tax schedule.  I went back and followed everything from last year, following the same path I used last year.  I also did it manually and have the correct numbers, I can't manually correct in TT this year and after as I mentioned above, after reading similar issues and following along, I still can't get it correct.  Any idea's?

Thank you!

[DoninGA]

You did receive a Form 1095-A, correct?

If so, you should be entering the 1095-A and the TurboTax software will populate the Form 8962, Premium Tax Credit -

To enter, edit or delete your Form 1095-A -

• Click on Federal Taxes (Personal using Home and Business)
• Click on Deductions and Credits
• Click on I'll choose what I work on (if shown)
• Scroll down to Medical
• On Affordable Care Act (Form 1095-A), click the start or update button

Or enter 1095-a in the Search box located in the upper right of the program screen. Click on Jump to 1095-a

[Deanmhoward3]

Thank you for the response.  I did exactly that and it would not populate in the 1095 A area, it populated in the prior area, Medical expenses.  I tried a couple different ways, but nothing seems to work.  

[Deanmhoward3]

FYI, I have the deluxe version I used last year.  I'm not sure if it makes a difference this year. 

[VolvoGirl]

Are you using the Desktop program?  It doesn't matter which version you have in the Desktop program.  For Schedule C.......

You only enter it from the 1095-A. When you enter the 1095A there should be a box to check for self employment. If you enter the 1095-A and select the "Self-employed and bought a Marketplace plan" box, it will automatically include those premiums in the SE Health Insurance section. So you shouldn't enter it again on schedule C.

Self Employed health Insurance does not go directly on Schedule C so it will not reduce your Net Profit or self employment tax.

If it does exceed your net self-employment income it gets split automatically. An amount equal to your net self-employment income goes on Form 1040 Schedule 1, and the remainder gets added in to medical expenses on Schedule A.

[DoninGA]

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@Deanmhoward3 wrote:

FYI, I have the deluxe version I used last year.  I'm not sure if it makes a difference this year. 

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All of the TurboTax desktop editions have all the same forms, schedules and worksheets so it does not matter which edition is used.

If you clicked on Affordable Care Act (Form 1095-A), start or update button, you should have landed on the screen labeled Did you receive Form 1095-A for your health insurance plan?  Answering Yes and Continue would have taken you to the screen to enter the information from the 1095-A.

Is this the screen you see for entering your information?

[Deanmhoward3]

Thank you, I have been able to use my 1095 A within Turbotax and enter all the information in the 1095 A area.  Once I enter the information, it ends up in the medical expenses.  

 I truly appreciate the help!  Here is what I'm looking for, and I'm sorry if I'm making this complicated. 

The premiums are based on income, if you make more than you stated in the market place then you have to pay the difference based on income back to uncle Sam, which I have done in the past.  If you make less than you stated, at least in prior years you would be given a tax credit/refund of those premiums instead of a tax deduction as you would receive in the medical expenses area.  I have also overstated in past years.   

Now everything is going to the medical expenses area.   

In my case, I missed a big contract and overstated my income, now looking for a credit of overpayment.  In past years it would go to, I believe a premium credit worksheet.  I did this manually with the worksheet and it was the same as last year, so the tax laws have not changed.  I have checked and unchecked several different boxes with no change within turbotax and no change.  Is there something I'm missing or am I mistaken and going forward I just underpay the premiums and pay the penalty.    

Thank you so much for all your help!