ThomasM125
Expert Alumni

Deductions & credits

Line 2(b) would be the ACA insurance premiums that were not used for the premium tax credit or self-employed heath insurance deduction. It would normally be a small amount. Since the premium tax credit adjustment could be positive or negative it is possible that this figure could be an addition or subtraction.

 

For practical purposes, you probably don't have an allowable medical deduction since the self-employed health insurance deduction and premium tax credit probably used up most of your insurance premiums. Also, the medical deduction has to be over 7.5% or your adjusted gross income to be allowable. So, it is doubtful the $5 entry will impact your tax or the processing of your tax return.

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