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TurboTax suddenly changed numbers on me

Hello,

 

I'm self-employed and received a 1095A, which I inputted into TurboTax. And I understand that, even though I received the PTC, I don't need to pay back the excess this year.

 

I completed everything in TurboTax a few nights ago, and it was showing the total amount for my health insurance (what I paid and the subsidy) as a self-employment health insurance deduction. Tonight, I went back into the program, which had an update when I opened it, and now it's showing about half that number.

 

Can you explain why? When you receive the PTC, can you include it as part of the self-employed deduction?

 

I'm not sure where TurboTax came up with this new number I'm seeing tonight, or if it's an error by the program. Nothing else changed, and I hadn't made any changes myself.   

 

Thanks for your help.

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3 Replies
ThomasM125
Expert Alumni

TurboTax suddenly changed numbers on me

You can't use your health insurance premiums to qualify for a premium tax credit and also deduct them on your tax return. TurboTax automatically determines what portion of your premiums are used to provide you a premium tax credit and what is left over as a self-employed health insurance deduction.

 

 

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TurboTax suddenly changed numbers on me

@ThomasM125, thanks, but the issue I'm asking about is that I entered my 1095-A, TurboTax decided that it would use the entire amount of the premium for the year (my payments plus the subsidy) as my self employment health insurance deduction. I printed out my return and forms to look them over, and returned to the program days later, and after a software update, it changed the amount it was using, therefore changing what I owe. 

 

I didn't try to manually expense the insurance premiums, it was done for me, as you said, and then mysteriously changed after I did nothing to prompt a change.

 

I did owe money back for the subsidy, but this year repayment isn't required. Did turboTax have an update that changed how it applied the PTC based on the repayment no longer being required? That's the only thing I can personally think of.

ThomasM125
Expert Alumni

TurboTax suddenly changed numbers on me

The decision by the IRS to allow for advance premium tax credits to not have to be paid back was made very late in the tax filing season, so the TurboTax program was updated after you entered your tax information, that is why the numbers changed on your tax return. 

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