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jennleonard8
New Member

If I bought insurance through the market place, and are self employed, will my premiums still be listed on line 29 of my 1040?

If I bought insurance through the marketplace and are self employed, will my premiums shop up on line 29 of my 1040?

4 Replies
w2002
New Member

If I bought insurance through the market place, and are self employed, will my premiums still be listed on line 29 of my 1040?

I entered 1095-A, linked the premium to a s-corp, I have 0 PTC, and I have net income, why line 29 of my 1040 is still blank?
ChristinaS
New Member

If I bought insurance through the market place, and are self employed, will my premiums still be listed on line 29 of my 1040?

Yes, if-

a/ You enter the 1095-A policy under the Health Insurance tab and indicate that you are self-employed in the checkbox after the input of the form

b/ You have an out of pocket after considering the Premium Tax Credit. If you get the credit, that's better and that comes first (before line 29's SEHI deduction)

c/ You have net income from Self Employment (including subtraction for 1/2 Self-Employment tax)

Turbo Tax will carry the maximize possible to Line 29, and the balance to Schedule A

jodichar
New Member

If I bought insurance through the market place, and are self employed, will my premiums still be listed on line 29 of my 1040?

I have same issue.  1095-a with zero PTC.  Marked appropriate boxes a more that 2% owner of S-corp under k-1 entry and health insurance entry.  Also have income to support premium deduction.
 Premiums paid through marketplace are not showing one line 29.  Also have premiums outside marketplace and these are not showing on line 29 either after entry under K-1 info.  Very frustrated.
ChristinaS
New Member

If I bought insurance through the market place, and are self employed, will my premiums still be listed on line 29 of my 1040?

S Corp owners need to confirm their W2 wages after entering the K1 (Medicare wages). For an Scorp owner to qualify for a deduction, there needs to be a W2 from the Scorp. Once you add your Medicare wages from your SCorp W2, the info from the 1095-A calc will flow to allow you a SE health deduction. Revisit the screen in the K1 section about paying health insurance. The message about this is right on the screen.
It works. I just tested it.

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