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June 23, 2019
Question

ACA

  • June 23, 2019
  • 1 reply
  • 0 views

We had to pay the IRS a tax in 2019 for ACA premium subsidies that we received in 2018 but were ultimately not eligible for.  Can I deduct these amounts as health care premiums paid on my 2019 tax return (in addition to the premiums we are paying this year)?  I can't find the answer anywhere.  It seems to me as though these are nothing more than premium payments just paid in a different calendar year.

    1 reply

    Kat11_2
    June 24, 2019

    These payments would not be deductible for tax year 2019 because they are taxes owed for a prior year (essentially back taxes, or re-payment of those ACA subsidies).  Even though you did pay these taxes in 2019, they apply to 2018 and would not be deductible for 2019.

     

     

    *** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***