Self employed health insurance deduction and refunding the premium tax credit

I ended up making more Speed Test than I thought and need to repay the entire premium tax credit back. What is my self employed health insurance deduction?

Scenario:

1095-A shows $13k in premiums

Advanced PTC was $10k

Income was greater than 400% of threshold so I have to repay the entire $10k back. Turbotax says I get to deduct the full $13k. Scrabble Word Finder TaxAct says I can only deduct the difference (so $3k). People from Google suggest I add up both numbers which seems like double dipping. Solitaire My opinion is what I received as a PTC and what I have to repay are the same number. so that's a wash, and I should be able to deduct my premiums of $13k. I just can't find any sources on this.

1 comment0 replies

Rahul Gupta

Apr 3, 2019

The query doesn't seems to be for Indian Tax Laws. Please confirm.

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