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Are my High Deductible Health Plan premium deductible in Georgia?

I work for an S-Corp and paid premium to a HDHP.  Premiums were paid with after tax money.  I do not have a W2 deduction for health expenses.  I am a 2% owner in the company and claimed these expenses in the Self Employed Heath Premiums.  This probably disqualifies me, but wanted to double check.  Thanks
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4 Replies

Are my High Deductible Health Plan premium deductible in Georgia?

You are correct - because you have gotten a tax benefit on the insurance premiums as Self-employed health insurance premiums, you should not try to enter them again in Georgia.

The Georgia High Deductible Health Plan deduction includes only the HDHP premiums that are not already accounted for on the federal return.

Therefore, you are unlikely to need to enter anything in this field on the Georgia return.

The Georgia instructions say

"20. An amount equal to 100 percent of the premium paid by the taxpayer during the taxable year for high deductible health plans as defined by Section 223 of the Internal Revenue Code. The amount may only be deducted to the extent the deduction has not been included in federal adjusted income and the expenses have not been provided from a health reimbursement arrangement and have not been included in itemized deductions. " See the Georgia instructions (page 15). Note that when you took the Self-employed health insurance deduction, your HDHP premiums were removed from federal adjusted income.

Are my High Deductible Health Plan premium deductible in Georgia?

Hi, friend! I paid the health plan premium in 2020 to Health Insurance Marketplace. I have a form 1095-A. Can I put an amount to contribute to a high deduction plan for the Gegroa Tax return? I am a standard deduction for Federal income tax return.  Where I can check the amount of premium I have or not included in federal adjustment income?  I am working on the TurboTax premier vision. thank you! I am looking forward to your response.

ThomasM125
Employee Tax Expert

Are my High Deductible Health Plan premium deductible in Georgia?

Your insurance contributions are entered in the federal section of TurboTax and flow down automatically to your Georgia return. Normally, your HDHP plan contributions are listed on your W-2 form and then you are asked to answer some questions about them in the Medical section of TurboTax in the Deductions and Credits menu.

 

Once you enter your W-2 and complete the Medical section in TurboTax, there is nothing further you need to do.

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Are my High Deductible Health Plan premium deductible in Georgia?

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