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Health insurance marketplace

Hello,

 

I am filing my taxes and come up with one issue. I am a single owner of LLC. I bought a health insurance thru the marketplace, so I deduct actual payments for 4 month ($69). In April I switched to corporate job and my annual income was higher then the estimated for the marketplace, so now I need to return the advance tax credit. Here is the question, can I deduct the amount that I need to return as a part of insurance premium?

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1 Reply
MaryK4
Expert Alumni

Health insurance marketplace

Yes, if you had to pay back the Advanced Premium Tax Credit, you can include the amounts for Self-Employed Health Insurance.  Turbo Tax will calculate the amount deductible based on your entries from the 1095-A. 

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