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sdhfith1
New Member

SE health insurance

I received the advance premium tax credit and it all has to be paid back on my 2021 return.   I am self-employed and I would expect the monthly enrollment premium amount in column A of Form 1095-A to be deducted as SE health insurance, but it is not.

My SE income is $15,861 and SE Tax is $1121 for a net income of $14,740.   I have no SEP, SIMPLE, IRA contributions, etc.

I paid premiums of  $3759 and have to repay the advance premium tax credit of $10,628 for a total health insurance premium of $14,387.  My plan includes my dependent child. I do not have a spouse.  

I would expect TT to deduct the full amount of $14,387 as SE health insurance, but it is only deducting $6460 and the remaining $7927 is being put on Schedule A.    The following note is at the bottom of the Health/LTC worksheet.  A self-employed health insurance adjustment of $6460.00 from premiums paid through an  exchange is included as an adjustment to income but does not appear on these worksheets.    I cannot find any worksheets that show how TT calculated this amount and do not understand how it is correct.   

1 Best answer

Accepted Solutions
Critter-3
Level 15

SE health insurance

Look at the 8962 form and Sch 2 line 2 ... that is the amount of the PCT advance you have to repay ... so that + the premium you did pay out of pocket should be on Sch 1 line 17.  

View solution in original post

2 Replies
Critter-3
Level 15

SE health insurance

Look at the 8962 form and Sch 2 line 2 ... that is the amount of the PCT advance you have to repay ... so that + the premium you did pay out of pocket should be on Sch 1 line 17.  

sdhfith1
New Member

SE health insurance

Thank you for your response!   I agree.   Schedule 2 and Form 8962 both show the entire PCT advance of $10,628 must be repaid.     

I removed the Form 1095-A link to Schedule C and entered the premium paid plus the PCT advance repayment in step-by-step for self-employed health insurance for Schedule C and the entire amount is correctly being deducted as SE health insurance.  

I'm still curious how TT calculated the amount of SE health insurance when the Form 1095-A was linked, but there is no worksheet to be found, so I guess there is no way to know.   

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