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"I am trying to find the line for premiums paid by self employed individuals. Ideally, I would like it on the "C", as he hasn't many deductions for "A"?"
Health insurance premiums for self employed are never a Sch C deduction, they are an adjustment to income on Sch 1, Part II of the 1040.
Im not familiar with ProConnect tax Online, but doesnt it have Search box that can help you find the entry area for Self Employed Health Insurance?
"Ideally, I would like it on the "C", as he hasn't many deductions for "A""
Except you don't get to do whatever works out better. You do what applies. You will want a link for the deduction to the fact of that Sched C business, or if there is more than one qualifying activity, of course, so that the full amount possible gets computed. It's not a business deduction; it's personal.
"By default, the program limits this SE health insurance deduction to the lesser of the total premiums entered or the net earnings from self-employment minus qualified retirement plans and one-half of the self-employment deduction on Form 1040. To limit the deduction based on the net income of a singe business activity, you must indicate the 'Form' and 'Activity Name or Number'. The program carries the limited amount to Form 1040 and carries the total premium entered, less the limited portion, to Schedule A as a medical expense."
I found these articles as reference:
If the taxpayer enters their medical premiums into the program via the 1095A form, I would expect PTO to use those premiums to calculate the medical premiums deduction based on the amount of SE income. However, the total premiums from the 1095A just went to line 1 of Schedule A. In my case the taxpayer had less SE income than medical premiums, so PTO should have taken the amount of premiums that could be deducted on the 1040 and then put the REMAINDER on line 1 of schedule A. I had to use overrides to fix this. Note: Turbotax does this calculation for you, but not PTO.
I know in ProSeries we have to link to the Sch C at the bottom of the form 1095A for it to do the correct calculation for SE health insurance..Im not familiar with ProConnect to know if they have something similar.
@George4Tacks don't you speak ProConnect?
To Just-Lisa-Now:
Thank you very much, you just gave me the key. I looked at the bottom of the 1095A input page and there was the place to link the premiums to SE income, sch C and/or sch E. Can't wait until I can speak fluent Proconnect! It's so hard for me to navigate as a new user....
It can be found in Deductions > Adjustments to Income > across the top - Health Insurance
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