Can I claim the out-of-pocket premium expenses that I paid after the tax credit I was given was used for Obamacare? I ended up owing each month Can I claim that amount?
03488
1 Best answer
KittyM
Level 2
Jun 3, 2019 1:45:42 PM
Yes, you can claim the premium expense you actually paid on your return. For example, if the premium was $500 and the Premium Tax Credit was $300, then you can claim the $200 you were out-of-pocket on your return.
3 Replies
KittyM
Level 2
Jun 3, 2019 1:45:42 PM
Yes, you can claim the premium expense you actually paid on your return. For example, if the premium was $500 and the Premium Tax Credit was $300, then you can claim the $200 you were out-of-pocket on your return.
carebear1218
New Member
Jun 3, 2019 1:45:43 PM
OK so even if I enter the 1095 in my taxes I can still enter the actual out-of-pocket amount separately. I just didn’t want to be basically claiming it twice if it auto calculated somehow that amount from the 1095.
carebear1218
New Member
Jun 3, 2019 1:45:44 PM
basically I didn’t know if entering the 1095 automatically told turbo tax that I had $x amount paid and it had already given me a deduction for that