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NYS Marketplace Insurance Premium

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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2 Replies
BillM223
Expert Alumni

NYS Marketplace Insurance Premium

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.

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NYS Marketplace Insurance Premium

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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