In 2020, my spouse had medical insurance through the NY State marketplace. She had coverage for 6 months. She did NOT receive any advance premium credit and we are not eligible for any premium credit because our AGI is over 401% of the poverty level.
She received a 1095-A (for 2020) in the mail.
In TurboTax Deluxe, under the section "how much did you spend on insurance premiums" there is a note from TurboTax that says "don't include (marketplace) premiums here if you received a 1095-A". Where would I include the total cost of the marketplace premiums? In another section? I am thinking the cost of these premiums is considered a valid medical expense.
Requesting some clarification on this. Thank you.
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Yes, as you know, medical insurance premiums paid for with after-tax dollars are indeed deductible on Schedule A.
I believe that the reason that you are told not to include the marketplace premiums is that it is done automatically from the 1095-A.
I encourage you to check this and see if the premiums were transferred automatically.
Thank you so much Bill.
I did not import any documents to Turbo Tax, so there was no way any of those premiums could have been added to TurboTax without my data entry. I had entered those premium amounts and then I saw the message indicating to not include them.
I appreciate your timely feedback and response.
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