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February 16, 2024
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advanced premium tax credit and self employed health insurance deduction

  • February 16, 2024
  • 1 reply
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Hi. I'm self-employed and signed up for health insurance on the marketplace. They offered me an advanced premium tax credit which I took. I did not have to pay any premiums at all due to this credit. When the Turbotax screen reads, "Self-employed and bought a health insurance plan on the marketplace", do I select YES although I technically did not pay anything but received and applied the credit offered? I ask because it makes a $300+ difference in taxes that I end up owing if I select NO. I made more money than I initially estimated for the year. Thank you kindly!

    Best answer by DawnC

    Yes, if you are self-employed and you have a 1095-A, answer YES.   

    1 reply

    DawnC
    DawnCAnswer
    Employee
    February 16, 2024

    Yes, if you are self-employed and you have a 1095-A, answer YES.   

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