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Self employed health insurance deduction

Where in TurboTax do I enter the portion of my health insurance premiums that isn't covered by the ACA subsidy?

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SwapnaM
Employee Tax Expert

Self employed health insurance deduction

@ajameson Please enter the 1095-A received in the deductions section. In the follow up questions, Check the box, "I'm self employed & bought a marketplace plan" & continue with the questions. TurboTax software will tie the 1095-A to your business & do the calculations for you. Do not enter in the self employed other business expenses section .

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SwapnaM
Employee Tax Expert

Self employed health insurance deduction

@ajameson Thanks for the question!! 

 

For all other self-employed health insurance premiums, follow these steps to enter them in the Home & Business version:

  1. With your return open, search for business expenses inside your TurboTax Home & Business program
  2. On the First, select the expenses you know you had screen, select Edit next to your business
  3. Select Start or Update next to Other Common Business Expenses
  4. On the Let's write off some business expenses screen, select Start or Update next to Long-term care insurance/health insurance premiums

 

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Self employed health insurance deduction

Thanks for this information - when I search for 'business expenses' I see something different however. I'm using the 'Self-employed' edition, would that be the reason?

 

Here's what I get:

 

Search 'business expenses'

Click 'Jump to business expenses'

This displays: "Your 2022 self-employed work summary'

If I click 'edit' for my 2022 'Line of work', I get a page with a section called 'Expenses', but I don't see the 'Other common biz expenses' section you refer to?

There's a section called 'Health insurance premiums' which says 'Not started' next to it. If I click start, I get a screen saying 'Tell us about health insurance premiums for your Writing work', with this sentence:

 
"Enter the total amount of health insurance premiums you paid for yourself, your spouse, and your dependents (under age 27) in 2022. Don't enter premiums you paid for your employees or premiums paid through Healthcare.gov or your state marketplace."
 
Below that is a field to enter the 'Amount'. 
 
But I did pay premiums through Covered California, so I'm wondering whether to enter the excess premium here? (e.g. the premium above what was covered by Covered California subsidy)
 
Thanks for any info - 
 
 
SwapnaM
Employee Tax Expert

Self employed health insurance deduction

@ajameson Please enter the 1095-A received in the deductions section. In the follow up questions, Check the box, "I'm self employed & bought a marketplace plan" & continue with the questions. TurboTax software will tie the 1095-A to your business & do the calculations for you. Do not enter in the self employed other business expenses section .

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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