Do I pay federal income taxes on residual income from insurance policy renewals? I am a retired insurance agent and received a 1099-MISC income form.

[M-Rod]

Turbo Tax is saying I get a federal tax refund of over $18,000. I paid estimated tax payments of $13,900. I receive social security and my wife has no income. Her health insurance is from a health insurance exchange (Obama Care).

[MinhT]

Yes, residual income from policy renewals is taxable. You'll need to enter that form 1099-MISC on your tax return.

If your spouse has a Marketplace health coverage, she should receive a form 1095-A which must be entered in TurboTax.

[M-Rod]

Is it possible that my tax refund is greater than the estimated quarterly payments I made to the IRS? Is the Turbo Tax software correct?

[MinhT]

It is quite possible if your tax liability is low and you have refundable tax credits such as the ACA premium tax credit.