Missouri Form 5695, Qualified Health Insurance Premiums worksheet for MO-A Line 12 How does TurboTax figure line 6Y?

[jerrytaylor]

Missouri Form 5695, Qualified Health Insurance Premiums worksheet for MO-A Line 12, How does TurboTax figure line 6Y?

[Linda H]

The figure on line 6Y is the amount of health insurance premiums you paid that were not pre-tax or reimbursed by your employer or reimbursed as a retiree benefit from a former employer. Example: medical and prescription supplement premiums paid out of pocket would qualify for line 6Y. Premiums withheld from your paycheck would most likely not qualify as they would be pre-tax (check with your employer).

[dlf2019]

This does not answer the question.  How does TurboTax figure the line 6Y amount?  I would like to know how.  But I would also like to understand why the amount used by TurboTax 2018 is higher than the amount that would be clearly calculated from the form 1095A information?

[karen8]

I noticed this too and found a post that explained -- TT rounds up each month's premium, then totals all months.  That explained the difference for mine, anyway.   My question is related, I think.  TurboTax automatically entered health insurance premiums from a 1095-A on Line 6Y of MO-Form 5695. These premiums were already included in the Federal AGI on Line 1 of MO-1040. (I'm self employed and file Sch. C).  Does Missouri allow the 1095A premiums to be deducted? It seems the deduction has already been accounted for in AGI.

[kwpTaxcpa]

I had the same question as Karen.  Seems like the health insurance premiums are being deducted twice, once in Fed AGI, and once more on MO-Form 5695.  Any help?

[dlf2019]

I got an answer from TurboTax.  The MO 5695 figure comes from the health insurance premium paid, figured from the 1095A entries, plus the excess advance premium tax credit, figured on the 8962 and shown on 1040, Schedule 2, Line 46.

[karen8]

I'm glad TurboTax was able to explain the calculation for the MO 5695.  DLF2019, thanks for sharing the response.  I hope someone is able to answer the 2nd part of the question, as asked above by myself and KWPTaxcpa (regarding what seems like the premiums being deducted twice).  

[kwpTaxcpa]

Previously, karen and I noted that it "seems like the health insurance premiums are being deducted twice, once in Fed AGI (for Self-Employed Individuals), and once more on MO-Form 5695.  Any help?"  Today (03/17/2019) I downloaded the TurboTax update for Missouri, and this update corrects the double-deduction glitch.  CORRECTION: My mistake, the double-deduction problem was never fixed in a TurboTax update for 2018, nor has Intuit (or anyone else) explained the double-deduction treatment.

It seems the same issue exists in the 2019 version...but you can override the amount on line 6 of MO-Form 5695 and eliminate the double-up.

[1104naes]

i hav

[1104naes]

Thank you that answered my question