HELP!!! Self-Employed health insurance deduction with 1095-A NOT populating on Schedule 1!!!

[ochang]

I've been doing this for over 4 hours, like everyone online, ready to pull hair off!

I've read just about every post that is relevant that is 2024 as old ones are not helpful. I've been using TurboTax for over 15 years, so I know what I'm doing, I believe.

It won't even let me override on Schedule 1 Line 17... what do I do???

I have BOTH Schedule C and S-Corp K-1 businesses, so I can use either. Tried both, and it only populates in Schedule A, which then zeros out if it doesn't meet the medical expense threshold. I NEED IT TO POPULATE ON SCHEDULE 1 - Line 17!

[DavidD66]

To claim the self-employed health insurance deduction in TurboTax Online: 

• Click on Search and type in "Self-employed health insurance deduction"
• Click on "Jump to self-employed health insurance deduction"
• Click Review next to your Business
• Click on "Add expenses for this work"
• Click on "Less common"
• Go to the second page of less common expenses and scroll down to "Health Insurance Premiums", check the box and click on Continue
• Enter your health insurance premiums you paid for yourself, your spouse, and your dependents (under age 27) in 2023. Don't enter premiums you paid for your employees or premiums paid through Healthcare.gov or your state marketplace.

Be sure you only enter the net premium you paid.  Do include any Premium Tax Credit you may have received.  

[ochang]

I had downloaded TurboTax Home and Business, I don't think I have the ONLINE version.

I have be mindful not to click on anything other than 1095-A Marketplace health plan and clicked on "I own a business" too.

[ochang]

THANK YOU so much for coming to the rescue! Can't emphasize how frustrating this is, locked in a room doing this when I could be enjoying the day outside!

[DavidD66]

You're welcome.  One thing I did not mention, be sure you enter the net cost after any Premium Tax Credit You may have received.  That amount will be on Form 1095-A

[ochang]

David, you need to walk me through it. Your instructions above did NOT apply to what I have. I am not using the online version. I downloaded the TT Premier onto my laptop. Please advise. I'd like to catch some daylight out there.

[ochang]

As mentioned, I have the MarketPlace 1095-A form completed and it didn't populate on Schedule 1, line 17 as needed. I found it populated on Schedule A but was reduced to "0" under Medical Expense which is NOT what we are going for.

[VolvoGirl]

Self-employed health insurance deduction goes on Form 1040 Schedule 1 line 17 then to 1040 line 10, as long as the expense is not greater than your net self-employment income. 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 line 17 and the remainder gets added in to medical expenses on Schedule A.

BUT do not enter any Health Care Marketplace insurance you bought.  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.

Are you married?  Be sure that Schedule C and the the insurance are entered under the same name.  

[ochang]

Thank you VolvoGirl for taking the time. I am not sure if I am just not explaining myself well and am frustrated. 

I have ONLY 1095-A Marketplace insurance. I have NO other health insurance. I have checked the box for "Self-employed and bought a Marketplace plan" and it is STILL NOT populating on Sch 1, Line 17.

I have gone through all the Step-by-Step questions as I've done in the last 15 years with TurboTax. I also know how to go directly to the forms and override them when I have to.  This time, I CAN'T even override 1040 Sch 1, line 17. It won't allow me to input anything. There's an hour-glass that leads me to Form 7206 which I have never ever had to complete before. On that form, there's NO provisions for 1095-A Marketplace numbers.

I am pretty sure I know how to read instructions. The expense is NOT greater than the income, so theoretically, it should have populated on its own on Sch 1, Line 17 and then 1040, Line 10 correct? It's NOT doing it.

[DavidD66]

My apologies.  Based on your previous reply I thought you had figured it out.  Regardless of whether you had a Marketplace plan and received a Form 1095-A or not, the deduction goes on Line 17 of Schedule 1.  I can't explain why the program is not transferring you deduction amount to Schedule 1.  The reason the program tells you not to enter marketplace insurance in the Business Expense section is to make sure the correct amount is reported.  I suggest you calculate the amount of your deduction and enter it in the business expense section.  To do so in TurboTax Desktop;

• Go to the Business Tab
• Click on "I'll choose what I work on"
• Click Update for Business Income and Expenses
• Click "Edit" next to your business
• Scroll to "Business Expenses"
• Update or Start "Other Common Business Expenses"
• Update or Start "Insurance Payments"
• Add your net cost for Health Insurance 

Be sure to adjust your premium amount for any additional Premium Tax Credit received or excess payment repayed, which will be reported on Form 8962, line 26 or 29.  

[ochang]

Thank you,. David!! A solution at least.... though I hope it won't red flag or trigger anything since the 2 other businesses that I could include in the business expense are both negative this year, so this would make it more negative.

Was hoping to do it the regular way. What's strange too is that it won't let me override, as I've done in the past.

Might you suggest uninstalling then re-install?

[DawnC]

Not yet.   You said you have multiple businesses.  If you have multiple Schedule Cs on your return, TurboTax uses the first business listed.   Since you have the desktop version, can you change the order of your Schedule Cs to have the profitable one listed first?    And then delete your 1095-A and then re-enter it.  🤞 

And one other thing - if you are editing the expenses in on Schedule C in Forms Mode, you need to use the Schedule C worksheet, not the Schedule C

[ochang]

Dawn, I entered the businesses, as in previous years, through the Step-by-Step process.

They are showing up in these order, which may not have to do with the order entered? It's the order of the Step by Step interview.

1. Schedule C loss

2. Schedule E loss

3. Schedule K-1 S-Corp income

Any new tips? Are you suggesting I delete Schedule C and E then?

[DawnC · Accepted solution]

No, do not delete anything.  If the Schedule C has a loss, you can't enter a health insurance deduction for that business.  For the K-1, the S Corporation can either purchase the policy in your name or reimburse you for the premiums you paid.  

You may be able to use the Self-Employed Health Insurance (SEHI) deduction if you're at least a 2% shareholder in an S Corporation.  To claim this deduction, the health insurance premiums must be paid or reimbursed by the S corporation and reported as taxable compensation in box 1 of your W-2.

To claim the SEHI deduction in TurboTax, you'll need the K-1 that the S Corporation sent you. Here's how to enter it and claim the deduction:

1. With your return open in TurboTax, search for K-1 and select the Jump to link.
2. Select Yes to Did you receive any Schedules K-1 or Q?
3. Select Start or Update next to S corporations (Form 1120S) and follow the screens, filling out info as you go.
4. On the Check boxes that have an amount or are checked on the form screen, select Box 17 Info and any other boxes that contain info on your K-1.
5. Select Continue.
6. On the Enter Box 17 Info screen, select AD - Other Information in the Enter Code field.
7. Enter the amount and select Continue.
8. Select Continue to skip the first Enter Code AD Detail screen.
9. On the second Enter Code AD Detail screen, enter Shareholder's Health Insurance Premiums in the Description field.
10. Enter the amount and select Continue.
11. Select Continue to skip the How to Enter Code AD Information screen.
12. On the Other Situations screen, select I personally paid health insurance... and then Continue.
13. On the Self-Employed Health Insurance screen, fill in the W-2 box 5 amount and the amount of health insurance premiums you paid (this may be on your W-2 in box 14).
    • If you purchased insurance through Healthcare.gov or your state marketplace, leave the second box blank.
14. Select Continue.
15. On the Long-Term Care Insurance screen, enter any long-term care premiums and select Continue.
16. Select Yes or No to Does your K-1 have a code V in Box 17?
    • If you selected Yes, follow the screens until you reach the S Corporation K-1 Summary.

[VolvoGirl · Accepted solution]

Will this help?  See this old thread.  It talks about how to deduct the 1095A from your K-1 self employment.  You need to unlink it and manually enter it.

https://ttlc.intuit.com/community/tax-credits-deductions/discussion/1095-a-and-self-employment-medic...