It's 2018 Tax Return time. Where to enter marketplace health insurance premiums paid?? I am self-employed with a business.
(For 2018 Returns. Self-Employed. I just upgraded to Home & Business. Started 2018 Returns with Premier but it wasn't enough.)
I cannot figure out where to enter all the premiums I paid for my subsidized health ins. through the marketplace. This question was answered through the Community with this:
- In the Business Expenses section, choose Start (or Update) next to Other Common Business Expenses.
- Now select Start next to Insurance Payments and follow the screens.
Is that old info?? I ask because when searching Help or Info on 2018 Turbo-H&B program, it reads very differently: (scroll down to the underlined portion) Why can't we enter these premiums under "Business- Insurance Payments"??
------------------------(START) Health Insurance Coverage
You can deduct up to 100% of health insurance premiums for you, your spouse and your dependents if you are self-employed and have a net profit from the business for which you created the plan.
This amount can include health insurance premiums you made for your children who were under age 27 at the end of 2018 even if the child was not your dependent.
Medicare B and Medicare D premiums should be entered here instead of in the Social Security Benefits section.
Do not include:
- long-term care premiums - this information should be entered on the next Interview screen
- any amounts paid from retirement plan distributions that were nontaxable because you are a retired public safety office
- Any amounts included on Form 8885, Health Coverage Tax Credit, line 4
- Any advance monthly payments shown on Form 1099-H, Advance Payments for the Health Coverage Tax Credit
- Any payments for months you received the benefits of advance payments for the Health Coverage Tax Credit (Form 8885)
These deductions are figured as part of your Form 1040, not as part of Schedule C.
Do not include health insurance purchased through a Health Insurance Marketplace (also known as an exchange). These premiums are entered on Form 1095-A in the program. Also, do not include any amounts from line 4 of the Health Coverage Tax Credit (Form 8885). (END) ----------------------------------
Can someone please clarify where to enter Marketplace Premiums? Also, I am NOT asking about Tax Credits or Subsidy amounts. Just the actual premiums I paid each month. Thank you so much!