tax1111 Posted March 9, 2021 Report Share Posted March 9, 2021 is premiums paid on 1095a deductible on schedule a? Thanks. Quote Link to comment Share on other sites More sharing options...
Slippery Pencil Posted March 9, 2021 Report Share Posted March 9, 2021 Medical insurance paid is deductible on Sch A. Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted March 10, 2021 Report Share Posted March 10, 2021 Since it's a 1095-A, you have to subtract the premium tax credit to arrive at the amount paid for health insurance. You can't just use column A. 1 Quote Link to comment Share on other sites More sharing options...
tax1111 Posted March 10, 2021 Author Report Share Posted March 10, 2021 12 hours ago, Abby Normal said: Since it's a 1095-A, you have to subtract the premium tax credit to arrive at the amount paid for health insurance. You can't just use column A. Thanks. I should subtract column c from column a and also subtract addtional ptc on form 8962 or add back ptc repayment on 8962, right? Quote Link to comment Share on other sites More sharing options...
tax1111 Posted March 10, 2021 Author Report Share Posted March 10, 2021 15 hours ago, Slippery Pencil said: Medical insurance paid is deductible on Sch A. thanks Quote Link to comment Share on other sites More sharing options...
jklcpa Posted March 10, 2021 Report Share Posted March 10, 2021 1 hour ago, tax1111 said: Thanks. I should subtract column c from column a and also subtract addtional ptc on form 8962 or add back ptc repayment on 8962, right? Yes, that is correct. Also exclude from Sch A any amount claimed as SEHI. Quote Link to comment Share on other sites More sharing options...
tax1111 Posted March 10, 2021 Author Report Share Posted March 10, 2021 43 minutes ago, jklcpa said: Yes, that is correct. Also exclude from Sch A any amount claimed as SEHI. Thank you! Quote Link to comment Share on other sites More sharing options...
WITAXLADY Posted March 15, 2021 Report Share Posted March 15, 2021 Or if they have a Business and are married - consider a sec 105 plan - Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted March 15, 2021 Report Share Posted March 15, 2021 On 3/10/2021 at 8:04 AM, tax1111 said: Thanks. I should subtract column c from column a and also subtract addtional ptc on form 8962 or add back ptc repayment on 8962, right? No, just use the total actual PTC allowed as the subtraction. Quote Link to comment Share on other sites More sharing options...
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