If I enter health insurance under 1095 (Obamacare), then my taxes go up, even though I am paying out of pocket since I am self-employed.

[wdchild]

It seems I am being penalized by having Obamacare. If I had deduced health insurance as self-employed, my taxes would have gone down.

[Lisa995]

If you received advance premiums credits (your out of pocket premiums were reduced by credits) and your income ended up higher than you told them you would make, you may have to pay back some of the credit you already received.

[rjs]

You can claim the self-employed health insurance deduction for the Obamacare premiums. You can only claim the net amount that you actually paid, after subtracting any subsidy (premium tax credit).

[juliob · Accepted solution]

If you have to pay all or part of the Advanced Premium Tax Credit back (plus any after-tax health insurance premium payments), you can deduct it as part of your business expenses.

"Since you're self-employed, you are also permitted to deduct your portion of the health insurance premiums (total premium minus the premium tax credit your are permitted) as a business expenses.  TurboTax will compute this amount and enter it on 1040 Line 29.  If no amount amount is showing up on 1040 Line 29, go through the Personal >Health Insurance section again making sure to answer the question about being self-employed AND selecting the Schedule C to which you want to attach the deduction.  When you are stepping through the questions, you have to click on "edit" when you get to the 1095-A data screen.  The self-employment question is on the page after you have reviewed your 1095-a entries." -https://ttlc.intuit.com/questions/3084018-self-employed-health-insurance-deduction-vs-form-1095-a-en...

Please see attached photos for screenshots. Hope this helps. Good luck!