is premiums paid on 1095a deductible on schedule a?

[tax1111]

is premiums paid on 1095a deductible on schedule a? Thanks. 

[Slippery Pencil]

Medical insurance paid is deductible on Sch A.

[Abby Normal]

Since it's a 1095-A, you have to subtract the premium tax credit to arrive at the amount paid for health insurance. You can't just use column A.

[tax1111]

12 hours ago, Abby Normal said:

Since it's a 1095-A, you have to subtract the premium tax credit to arrive at the amount paid for health insurance. You can't just use column A.

Thanks. I should subtract column c from column a and also subtract addtional ptc on form 8962 or add back ptc repayment on 8962, right?

 

[tax1111]

15 hours ago, Slippery Pencil said:

Medical insurance paid is deductible on Sch A.

thanks

[jklcpa]

1 hour ago, tax1111 said:

Thanks. I should subtract column c from column a and also subtract addtional ptc on form 8962 or add back ptc repayment on 8962, right?

 

Yes, that is correct.  Also exclude from Sch A any amount claimed as SEHI. 

[tax1111]

43 minutes ago, jklcpa said:

Yes, that is correct.  Also exclude from Sch A any amount claimed as SEHI. 

Thank you!

[WITAXLADY]

Or if they have a Business and are married - consider a sec 105 plan -

[Abby Normal]

On 3/10/2021 at 8:04 AM, tax1111 said:

Thanks. I should subtract column c from column a and also subtract addtional ptc on form 8962 or add back ptc repayment on 8962, right?

No, just use the total actual PTC allowed as the subtraction.