I received a form 1095-A but did not receive any tax credits, can I still deduct my premium?

[denisenweber]

I pay my health insurance premiums out of pocket (my employer does not contribute. I purchased my plan from the marketplace, but do not receive any tax credits. I received a 1095-A form in the mail (with 0.00 in column C). Can I still deduct my annual premium total even though I received this form?

[MinhT · Accepted solution]

Yes, you can deduct the annual health insurance premiums (less any ACA premium credit) along with all your other paid medical expenses as Medical expenses in Schedule A - Itemized deductions.

Medical Expenses are subject to the 7.5% rule and you can only claim the excess over 7.5% of your Adjusted Gross Income.

Please note that Itemized Deductions will only "help" when they exceed your standard deduction.

For 2017, standard deductions are:

For a taxpayer under 65, not claimed as a dependent

• $6,350 for Single
• $12,700 for Married Filing Jointly, or Qualifying Widow(er) with dependent child
• $9,350 for Head of Household
• $6,350 for Married Filing Separately
• If you are over 65 or blind, add $1,250 for each instance or add $1,550 each instance if single and not a surviving spouse

In TurboTax, you can enter Medical expenses by following these steps:

• In TurboTax, open your tax return
• Click on Federal in the left-hand column, then on Deductions & Credits on top of the screen
• Scroll down to All Tax breaks, locate the section Medical and click on Show more
• Click to Start next to Medical Expenses.