Re: ACA

We had to pay the IRS a tax in 2019 for ACA premium subsidies that we received in 2018 but were ultimately not eligible for. Can I deduct these amounts as health care premiums paid on my 2019 tax return (in addition to the premiums we are paying this year)? I can't find the answer anywhere. It seems to me as though these are nothing more than premium payments just paid in a different calendar year.

posted

These payments would not be deductible for tax year 2019 because they are taxes owed for a prior year (essentially back taxes, or re-payment of those ACA subsidies). Even though you did pay these taxes in 2019, they apply to 2018 and would not be deductible for 2019.

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***