Level 9
02-05-2024
08:25 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
It also happens when you itemize your deductions. Health insurance is already included in taxable income thru way of itemized deductions. So to deduct it again is of course idiotic. I have just been adjusting the amount on line 15 of schedule 1.
Adjust to 0 if self employed deduction is used to already reduce taxable income. I only deducted it to the excess of allowed medical deductions over the limit for those over 65 with enough to itemize. Because that is the only tax benefit amount gained.