self employed health premiums and the 1095A form?

[kenc295]

In 2021 I had some self employed income.

I bought my health insurance through the CA exchange/Blue shield in 2021, I therefore got a 1095A.

I thought I could claim my health insurance premiums against my self employed income, but the "self employed health insurance" box hint says not to include amounts from a 1095A.

Because I had deferred income as well in 2021, and use the standard deduction I get basically nothing from the 1095A expenses because of the 7.5% multiplier of gross income. 

So, I am confused as to whether I can in fact enter my medical premiums for the year in that "self employed health insurance" box despite the turbo tax hint to the contrary?

Otherwise I get to deduct no premiums against my self employed income, or have I missed something?

[VolvoGirl · Accepted solution]

Yes you can.  When you enter the 1095-A.

 For self employed health ins do not enter any Health Care Marketplace insurance you bought.  If you enter the 1095-A and select the "Self-employed and bought a Marketplace plan" box, it will automatically include those premiums in the SE Health Insurance section.  So you shouldn't enter it again on schedule C.

Self-employed health insurance deduction goes on Form 1040 schedule 1 line 17, as long as the expense is not greater than your net self-employment income. If it does exceed your net self-employment income it gets split automatically. An amount equal to your net self-employment income goes on Form 1040 Schedule 1 line 17,  and the remainder gets added in to medical expenses on Schedule A.

[kenc295]

Wow, as easy as that!  Thanks very much Volvo Girl, that was spot on,  I had not seen the small section at the bottom of the 1095 form linking the 1095A to the schedule C and my self employed income..

THANKS AGAIN, you're a gem! 

[dcortez]

Still confused. I enter 1095A premiums. I DO NOT link it to my Sch. C business. So the total does NOT appear in the little box  for SE insurance on C.  But it does appear line 2 (o) on Schedule A medical expense worksheet. The SE ins deduction does appear on the SE Ins worksheet for my Sch C business.  So don't get any deduction. If I overide line 29 (o), I get the schedule A deduction. I can now itemize A deductions.  line 2 (o) has no active line to the source of this data.  I understand why linking it to Schedule C I get the SE tax deduction. But not linking it, it should go to Schedule A.  What am I missing. 

[Critter-3]

Stop overthinking it ... DO LINK the 1095-A   to the Sch C and any allowable ADJUSTMENT to income (Sch 1 line 17) will be done by the program automatically  and any unallowed amount will be sent to the Sch A automatically.  It doesn't go anywhere on the Sch C at all.  One entry on the 1095-A screen will do it all for you.