Question regarding repayment of ACA:
We repayed the entire outstanding premuim amount for 2018 when we filed out 2018 taxes because our income went over the limit. How do we deduct the $22,000 repayment when doing the 2019 returns. We had to repay because income was too high; if it was deducted, then income went down below limit negating the repayment. Makes no sense. One accountant said it should be deducted in this year's taxes as a medical expense. Another says we should redo 2018 taxes. IRS info is unclear and there is NO information to be found online outside of this. IRS pub says repayment could be medical expense for that year (2018).
Anyone know anything about this? Filed a return when you did repayment?
