Question
Excess advance premium tax credit repayment exclusion & SE health insurance
I have a client that had an excess advance premium tax credit repayment, but does not have to pay it back due to the new law for 2020. However, when ProSeries calculates his self-employed health care deduction it is not backing out the subsidy amount. It's calculating the deduction based on the full premiums paid. I assume the program is doing this because he would normally pay back the subsidy and then get to use the full amount of the premiums in the SE health insurance calculations. Has anyone else run across this and how did you handle it? Thanks!
