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Level 3
February 13, 2020
Solved

Adv Premium Tax Credit Repayment as a Sch A medical ins deduction

  • February 13, 2020
  • 6 replies
  • 32 views

I expected that an APTC repayment would flow to the medical expenses worksheet as a health insurance premium deduction.  Instead only the monthly premiums paid from the 1095A are showing up as a medical deduction.  I have read that a 2019 repayment is to be claimed on the 2019 tax return.  I am either missing something in the law or the input to Pro Series or??  Has anyone else figured this out?

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Best answer by rbynaker

Yes. $4326 in Col A and $9,120 in Col C.  They are paying back the $9,120.  Line 2b on the Medical Expenses Worksheet for 1095-A premiums is only $4326.  Maybe I am supposed to input the $9,120 somewhere?



@suesayers wrote:

Yes. $4326 in Col A and $9,120 in Col C.  They are paying back the $9,120.  Line 2b on the Medical Expenses Worksheet for 1095-A premiums is only $4326.  Maybe I am supposed to input the $9,120 somewhere?


Something doesn't make sense.  Column A should not be higher than Column C.  Column A should be what the insurance company got, Column C is how much of that amount was paid by the exchange.  A - C = how much the taxpayer paid directly to the insurance company.

I think either the 1095-A was prepared incorrectly or perhaps there was some retroactive cancellation and the taxpayer got a big refund check from the insurance company that they now have to pay back to the government?

<sniff, sniff> Smells funny to me.

Rick



6 replies

Intuit Community Champion
February 13, 2020

Had a client that had to repay, and program did put the difference between column A and C that was on 1095A , and added what she had to repay on schedule A, so program was correct. My client took standard deduction, but the program did it correctly.

suesayersAuthor
Level 3
February 13, 2020

Hmm.  I have gone back to 2016 and do not see any adjustments for repayments on Sch A.  The current client has to pay back the entire amount in Col C.  Even without itemizing, it is deductible on the state return, and does not flow there.  I wonder if there is a box to check somewhere that I am overlooking.

Intuit Community Champion
February 13, 2020

Do you have amounts in both columns A, and C.