Obamacare and Self-employed health insurance deduction

[Black Bart]

Any reason why we couldn't take a line 29, form 1040 deduction for the amount a Schedule C filer actually paid during the year (and handle the 8962 over/under payment next year)?

Although it's not established under a business, as I remember they did away with that requirement (witness the SSA Medicare payment now qualifying) and insurance is insurance, wherever purchased, isn't it?

[AJsTax]

Sehi

There is a rev proc that deals directly with that issue. You must adjust the front page deduction by the amounts of premium credit received which reduces AGI , which increases the amount of Premium credit allowed , which reduces the amount of the front page deduction allowed, which.... it is a circular calculation. If it is entered correctly in the software it should handle it. There are two allowed methods to arrive at the correct amounts.