Self Employed Healh Insurance

[Dave T]

Husband and wife both self employed music teachers.  Some lessons given in home. others at students' homes.

Health insurance is purchased through exchange.  T/P receives 1095-A showing premiums under silver plan and advance payments of FTC.  I'm in the process of preparing the 8962.

My question is, can they claim the amount paid out of pocket as the Self Employment Heatlh Insurance adjustment.  Seems I saw something indicating they can't take this but not sure about this one.  I haven't encountered this in the past.

Thanks for your assistance.

Dave T

 

 

 

 

[Catherine]

Yes, the out of pocket amount qualifies for SEHI.  But only that portion.

[RitaB]

3 hours ago, Dave T said:

Husband and wife both self employed music teachers.  Some lessons given in home. others at students' homes.

Health insurance is purchased through exchange.  T/P receives 1095-A showing premiums under silver plan and advance payments of FTC.  I'm in the process of preparing the 8962.

My question is, can they claim the amount paid out of pocket as the Self Employment Heatlh Insurance adjustment...

This may come in handy for you, Dave:

 

[jklcpa]

Thanks Rita, I was just going to post the information and discussion that was in that post.

You have to work through the calculations for the SEHI deduction and the involvement for the s.e. tax for someone who also qualifies for the PTC. It isn't as simple taking the premiums net of the credit because of the s.e. tax. 

[RitaB]

It's Affordable Care Act Hell.