Health Insurance Adjustment

[kare2k13]

I originally asked a question about how to fix an error in our Health Insurance Adjustment.  While waiting for a reply, I found the same error in our prior year, and because TT hadn't marked it as an error, I thought it was OK.  I didn't get any answers to that original question, but was concerned, so I researched the posts in the Community and found a solution, and made the correction.  As it turns out, I completed the request to enter SSA-1099 information in the Business section of our file, but found in my research that the Medicare portion should not be entered there, but later. 

Now I need to know if I need to amend prior year(s) if it had the same error?  Thank you. 

[robtm]

Sorry you didn't get a reply to your first post. It's always a good idea to do a search for a problem you have before submitting a question as others may have encountered the same problem previously and have a solution for it. As to your current question if the change would result in you owing more taxes or getting a refund for prior year(s) then you should do an amended return. If no change to your taxes then it would be pointless to do an amended return.

[kare2k13]

@robtm  Thank you for your response.  I do research the posts before posting a question. There weren't any that applied, therefore the question.  Probably just didn't have similar phrasing is my guess.  When I found the solution, it was in a post stating there was a post from 2021 stating that the member thought there was "a possible bug in handling Medicare Part B premium", which is a close description to my problem.  One suggestion was to read the "learn more" in that section, but I use "learn more" religiously, even copy the information into my notes for future reference.  But in this case, I knew what the Part B section signifies, and entered it where it was requested, which duplicates later in the filing.  I wouldn't have logically waited to enter Part B in my "self employment insurance" because it doesn't make sense.  But made the correction as instructed and thank goodness and clear instructions, cleared up the duplication. 

The Community is an invaluable tool and I appreciate the feedback and instructions.  I couldn't do our Biz taxes for all of these years without them.  I have learned SO much.  Thank you and the Community for your direction and assistance!  Have a great weekend! 

[VolvoGirl]

So it sounds like you entered the full SSA-1099 in the Personal section as normal including the Medicare.   Then you also entered the Medical under Schedule C on the Business tab?  You only need to amend if you itemized your personal deductions on Schedule A and didn't take the Standard Deduction on 1040 line 12 (2023 & 2024).