Help please. My wife his a sole proprietor and I am retired. I am on medicare and my wife and sons are on the ACA. We underestimated our income for 2023 due to large capital gains and now I have to paid back about $7,000 to the ACA. I'm cool with that. I took my medicare premiums plus the premiums for the ACA policy as a Self-Employed Health Care deduction, which more than offsets all of our SP income. We are doing an itemized deduction this year so we are writing off medical.
My question is do I add the ACA premiums tax credit that I am paying back ($7,000) to the Self-Employed Health Care deduction? I don't see where else it gets picked up as a deduction.
Thank you in advance for any insight you can provide.
John
