When doing my Accuracy Review on my HR Block Tax program, it said that my entry for my health insurance premiums are less than my marketplace premiums. I had my policy through the Affordable Care Act. The amount I entered was the actual premiums I paid out of pocket. Should I have entered the total amount from Part III of my Form 1095-A, Column C - the Monthly advance payment of premium tax credit? My actual payments for the year after the discount is 4,081. I filed an extension because I thought my tax owed was high and I'm unsure of this question. I'm self-employed and the accuracy review concerns my health insurance deduction.

June 30th, 2024

I am in the business of renting an RV trailer that must be towed behind a vehicle. What category and how many years do I depreciate it? Is it eligible for Section 179?

January 3rd, 2024

If someone becomes mentally or physically incapable of self-care and moves to a facility, does converting their home to a rental property affect the 5-year residency period for gain exclusion from the sale of the residence?

June 18th, 2023

How should I handle a casualty loss from a natural disaster on Schedule A, considering the possibility of a Net Operating Loss (NOL) and the option to carry it back or forward?

August 21st, 2023

Can a guarantor deduct a settlement paid to a lawyer as a business expense on Schedule C if the guarantor was a partner in a real estate development partnership that previously declared a loss, and the guarantor never reported income from this partnership before?

December 12th, 2023