What does the Schedule 2, tax mean? It is requiring I upgrade to TurboTax Deluxe

[JulieCo]

Schedule 2 is a new form for 2018.  The 1040 form was completely revised for 2018 and it is now much shorter.  Line items that used to be reported on the 1040 form have now been moved to up to six different schedules (Schedules 1 to 6). 

Schedule 2 is where AMT taxes and excess advance premium credit tax repayment amounts get reported.  Therefore, if you have either one of these additional tax requirements to be reported on your 1040 form, then you will need to upgrade to have Schedule 2 included in your return.

Here is a sample of Schedule 2: Schedule 2

Here is a FAQ for scenarios where you are on your parent's health insurance plan.  If they have a 1095-A for a plan they purchased through the marketplace, then review the options below. 

https://ttlc.intuit.com/replies/5295824

[Edited 4-1-19|4:35pm]

[jcamberos93]

Thank you for your response. What is AMT stand for though? Does this have to do with health insurance?

[JulieCo]

AMT is alternative minimum tax and it does not have to do with health insurance.  BUT the excess premium tax credit repayment does have to do with health insurance. If you were receiving the premium tax credit during the year as a reduction of your monthly health insurance payments, and during your 1095-A entry it was determined that you received excess premium amounts, then the repayment of that excess gets reported on Schedule 2.

[jcamberos93]

Ok I see, so can I just ommit my health insurance info and take the penalization fee for not having health insurance even tho I did have it? My federal tax return changed from getting money to paying once I put in my health insurance information, which I don't understand. I am independent of my parents but I was on their health insurance last year, thus I am inputting that information in. Please help

[JulieCo]

I revised my answer above to include scenarios for health insurance entry when one is on their parents plan.