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[grandmabee]

I deducted the medical insurance on year 2015 on A then they get a extra credit when I do return.   Do I reduce any medical deduction for extra credit given or is the adjustment taken on the 2016 return.  I keep going in circles on this one.  Thanks for any information.

[Bonanza 23B]

Reduce medical insurance on Schedule A in 2015.

[jklcpa]

It should work out that the deduction on Sch A ends up being this:

1. Total premiums on Form 8962, part 2, col A (either line 11 or total of lines 12-23)
2. Less: Advance of PTC used during year, as shown on 8962, line 25
3. Less: PTC allowed on the return, as calc'd on 8962, line 26

Is the complication because the person is self-employed?

 

 

 

[Lion EA]

It is a circular calculation and the IRS has said you can continue until the difference is less than $1.  I think you have the formula and also an alternate calculation that you can choose when SE.  Check your software for Help or Tech Support.  I can't help you with ATX.