Health Care

Health Care

How do health care reform and taxes connect? The Affordable Care Act is single largest change to the tax code in two decades. Find help navigating the complexities of the new health care legislation, Medicare, Medicaid and other medical deductions.

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Council Member
Posts: 516
Registered: ‎04-06-2016

Re: Self Employed Health Insurance Deduction for 2% S-corp Not Working Properly

I saw that as well in my research and had come to the same "conclusion" as you. BUT I couldn't find ANYTHING that said it was OK to not claim all of the subsidies you were eligible for.  


I'd also love to hear from a CPA or two on this issue. I'm just afraid there aren't enough people in this situation to make it a priority for anyone to fix. 


Karen

Trusted Pioneer
Posts: 6
Registered: ‎03-06-2016

Re: Self Employed Health Insurance Deduction for 2% S-corp Not Working Properly

Thanks so much for the additional feedback. After much research, I found similar instructions that you did. I also found the two IRS worksheets they referred to as simple and more complicated version. The "simple" worksheet was one of the more complicated forms that I have ever seen from the IRS, and came with poor instructions. I ultimately gave up and just went with deducting the full PTC. Of course H & R Block would not allow you to override their incorrect calculations. What a disappointment the H & R software was this year. I noticed that several other tax software companies had taken the time to get this calculation right. I'll definitely give them a try next year.