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I purchased my medical insurance through my state's marketplace last year at full price (no premium assistance). When I received my form 1095-A, the amount shown as my premium each month was less than what I actually paid in medical premiums. I called the state marketplace people and they said it was not an error, that the 1095-A only shows the portion of the premium which is for 'essential' coverage (meaning I guess that my chosen plan offers something more than what is legally required). Can I deduct the portion of my actual premiums which was not included on my form 1095-A or am I limited to what's on that form ? If I can, do I enter that incremental amount in the 'medical premiums' section of 'deductions' in TurboTax online ?
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Yes, you can deduct the total of all the premiums you paid in 2021 even if they were not included on the 1095-A. The entry is medical premiums.
If it is a personal deduction, you must itemize your deductions and you can deduct only the amount of total medical expenses that exceed 7.5% of your adjusted gross income.
Yes, you can deduct the total of all the premiums you paid in 2021 even if they were not included on the 1095-A. The entry is medical premiums.
If it is a personal deduction, you must itemize your deductions and you can deduct only the amount of total medical expenses that exceed 7.5% of your adjusted gross income.
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