TurboTax Home and Business miscalculating health insurance deduction for self-employed
I am self-employed and purchase my health insurance on the exchange. When I enter the information from 1095-A on 8962 it calculates I have to repay $2700 due to excessive PTC. TurboTax was updated to waive that repayment due to the recent tax code changes for this year. However, it still adds that penalty to what I paid out of pocket and reports that amount as an adjustment to income on Schedule 1. How can this be right? Means sense of the penalty was applied and paid but it wasn't.
I cannot figure out how to override this. When I go into Health LTC Worksheets this figure is auto-calculate and the following statement appears:
"A self-employed health insurance adjustment of $4941.00 from premiums paid through an
exchange is included as an adjustment to income but does not appear on these worksheets."
In this case, the 4941 includes the 2700 repayment and is transfer to Schedule 1.
How do I fix this?