Aca self employed

[TAX4US]

TP single self employed had a real good year. Received form 1095-A. Column A is not the amount he was paying. TP is actually paying more. TP also got the PTC and now has to pay it back. Question is: Can I use the premiums paid oop plus the credit pay back for self insurance on the front of the return or do I have to wait until we file and use it next year. AGI happened to be 38K all from self employed. What is your take?

[Lion]

I remember someone saying you do deduct it all. But, I haven't had that situation, so check the FAQs on IRS.gov or search this forum for a cite.

[JudyL]

TP single self employed had a real good year. Received form 1095-A. Column A is not the amount he was paying. TP is actually paying more. TP also got the PTC and now has to pay it back. Question is: Can I use the premiums paid oop plus the credit pay back for self insurance on the front of the return or do I have to wait until we file and use it next year. AGI happened to be 38K all from self employed. What is your take?

Ultimately what should end up being used to calculate the SEHI is the total premiums paid minus the final amount allowed as the PTC. Since you say all PTC is being repaid, then the SEHI for 2014 should be based on the premiums before any credit was applied. You don't wait until 2015 to deal with the repayment, it is part of the 2014 calcs.

[Burke]

I would agree with JudyL. I had one on an W-2 individual, and we used the amt paid + the payback as a deduction on Sche A in 2014.

[TAX4US]

Was the way I was seeing it also.