Can I deduct as self-employed health insurance premiums repayment to SSA for uncollected IRMAA?

[hullian]

Near the end of 2023 I underestimated what my final total self-employment income would be; I requested and received an IRMAA waiver from SSA. Now the IRS has given SSA my 2023 tax return, and SSA is "politely" requesting me to pay the IRMAA for 2024 that it had waived. Question: if I pay it all this year, can I also include that 2023 amount in my health insurance premiums paid THIS year to cover 2023 underpayment? 

[Mike9241]

these items are deductible only in the year paid. so the IRMAA repayment made in 2024 is not deductible in 2023 

[hullian]

Yeah, so just trying to confirm that I CAN include that repayment made in 2024 in health insurance premiums paid for 2024?

[dmertz · Accepted solution]

Regarding the self-employed health insurance deduction, section 162(l)(1) of the tax code says:  "there shall be allowed as a deduction under this section an amount equal to the amount paid during the taxable year for insurance ..."  There doesn't seem to be any mention of a requirement that the payment to be for insurance coverage for that same year.  You'll still need to have sufficient net earnings from self employment on your tax return to cover the entire self-employed retirement deduction on that same tax return.