I have a similar question regarding the deductibility of premiums paid in 2018. I am self employed and operate on a cash basis. I am accustomed to being able to deduct health insurance premiums on my Schedule C. But this year I made three premium payments to a state exchange. One of these payments was made December 26, 2018 for coverage effective January 1, 2019. When I am in turbotax and filling out information connected with self-employment, the interview tells me not to enter the information there, but to enter the 1095-A information. The problem is, the 1095-A deals with COVERAGE, not premium payments. So it correctly states that my family had COVERAGE during November and December, but it omits the fact that I made a premium payment on December 26, 2018. Ordinarily a business can deduct that payment. But the 1095-A makes no mention of it, and I can see no other way to enter it.
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I am self employed and operate on a cash basis. During 2018 I purchased insurance for my family from a state exchange. I made three premium payments: 10/26/19 payment for November 2018 coverage, 11/26/19 payment for December 2018 coverage, and 12/26/18 payment for January 2019 coverage Only the first two of these three payments show up on the 1095-A. Ordinarily health insurance premiums are deductible as a business expense on Schedule C. But when I am in the section on TurboTax where I would ordinarily enter those premiums, under "Income and Expenses," in the section on "Self-Employment," the program tells me not to enter the premiums I paid on schedule C, but to enter the 1095-A information elsewhere. It says: [BEGIN QUOTE] Do not enter: Health insurance purchased through a Health Insurance Marketplace (also known as an exchange). These premiums are entered on Form 1095-A in the program. [END QUOTE} Here's the problem. Form 1095-A documents coverage during 2018, not premium payments made during 2018. Thus it gives no indication of the 12/26/18 premium payment, which should be deductible on Schedule C as a business expense paid during 2018. How do I enter it?
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