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Level 3
posted Feb 17, 2023 10:01:56 PM

TT2022 allows Social Security Part A premiums to be fully deductible on Schedule C even when there is a net loss (and should not)

I entered my Medicare premiums as deductible health insurance expenses on Schedule C and even though the business had a small net loss TT allowed the premiums to be fully deductible which created a larger loss. In theory health insurance premiums should be deductible only to the extent that the business has a net profit. So this seems to be a TT bug.

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1 Best answer
Level 15
Feb 17, 2023 10:10:35 PM

You must have entered it under the wrong place as health insurance you paid for your employees.  What version are you using?  Online Self Employed version or the Desktop program?

 

Where to enter Self Employed Health Insurance
https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-health-insurance-premiums-if-i-m-self-employed/00/27111

 

How to enter in the Desktop Home & Business version
https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-health-insurance-premiums-in-turbotax-cd-download-home-business-if-i-m-self/00/26387

2 Replies
Level 15
Feb 17, 2023 10:10:35 PM

You must have entered it under the wrong place as health insurance you paid for your employees.  What version are you using?  Online Self Employed version or the Desktop program?

 

Where to enter Self Employed Health Insurance
https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-health-insurance-premiums-if-i-m-self-employed/00/27111

 

How to enter in the Desktop Home & Business version
https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-my-health-insurance-premiums-in-turbotax-cd-download-home-business-if-i-m-self/00/26387

Level 3
Feb 18, 2023 3:50:23 PM

You were dead on.  That is exactly what I had done.  Thank you!