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1095A and Self-Employed Health Insurance Deduction

jakcpa10
Level 1

The self employed health insurance deduction does not seem to be calculating accurately when a taxpayer has a 1095-A in the 2020 program.  Has anyone else encountered this issue? My client only paid premiums throughout the year of 535, and is only required to payback of $10 of the advance premium tax credit.  However it is putting 11,829 on line 16 of schedule 1 for the health insurance deduction. 

1095 A details:

Line 33A. 18,336; B. 25,023; C. 17,801

Those are the totals but each month is not the same amount. I have entered each individual month, not the totals.

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6 Replies 6
Just-Lisa-Now-
Level 15
Level 15
how much profit is on Sch C?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
jakcpa10
Level 1

It is on a Schedule F, net income is $56,726.

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jakcpa10
Level 1

Do you have any suggestions?

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EmsBTW2016
Level 4

Did you ever figure out what to do here?

I have a slightly similar situation.

Spouse has a Schedule C and would have had to pay back all of the advance premiums but due to American Rescue Plan Act, that part is waived.

The issue is the self employed health insurance deduction - it was calculating in the software as the amount of monthly enrollment premiums, which is more than the amount actually paid.

I am leaning towards using the override for SE health insurance overriding with the amount actually paid. 

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jakcpa10
Level 1

We did not ever find a solution.

I think the override may end up being the best option.

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EmsBTW2016
Level 4

Thank you for responding - that is what I was thinking.

Using the override pulls the correct amount (the amount the client paid). That is what I am going to go with at this point. The clients income was  not get the PTC this year so there are no special calculations to be done there at least. 

Using the override seems like the most conservative/reasonable choice.

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