I have to repay some healthcare premium credits, doesn't that mean I'm actually paying more for my premiums? Isn't that part repaid then deductible as insurance premiums?

chilepeppa · ‎June 5, 2019

Seems to be a catch-22... Must deduct money from IRA early to pay for health insurance which then puts you into a higher tax bracket? Doesn't seem right unless I can deduct those premium credit repayments somehow?

IsabellaG · ‎June 5, 2019

Yes, you're correct that if you have to repay the advance premium credit it means that you have paid more for health insurance. This is automatically transferred to the Medical Expenses section of TurboTax, if you are able to deduct medical expenses.

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IsabellaG · ‎June 5, 2019

Yes, you're correct that if you have to repay the advance premium credit it means that you have paid more for health insurance. This is automatically transferred to the Medical Expenses section of TurboTax, if you are able to deduct medical expenses.

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chilepeppa · ‎June 5, 2019

I see where that was calculated now... Thanks Isabella!

IsabellaG · ‎June 5, 2019

You're welcome!

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I have to repay some healthcare premium credits, doesn't that mean I'm actually paying more for my premiums? Isn't that part repaid then deductible as insurance premiums?