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Get your taxes done using TurboTax
Maybe. If you received a subsidy or premium tax credit to purchase a health insurance plan in the Health Insurance Marketplace through the Affordable Care Act, any advanced-payment subsidy that lowered the cost of your health insurance premiums cannot be claimed as a deduction. However, the money you paid out of your own pocket for your premiums might be tax deductible.
If you’re able to claim your health insurance as a medical expense deduction, you can only deduct medical expenses if you itemize your deductions and they exceed 7.5% of your adjusted gross income.
The question you need to answer is if all of your itemized deductions is greater then using your standard deduction.
The program will recommend which option is more advantageous for your situation.
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