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March 18, 2025
Question

form 7206 - self employed with health insurance through the marketplace and received subsidy

  • March 18, 2025
  • 1 reply
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I just want to verify that form 7206 is not used when self employed uses the marketplace for insurance and receives subsidies.  The program Home and Biz takes a s/e deduction for the difference between the subsidies received and the insurance paid and uses the numbers from the 1095A form.  That seems correct but want to be sure form 7206 should not also be used.

1 reply

March 18, 2025

taxpayers must file IRS Form 7206 if they had multiple sources of self-employment income, file IRS Form 2555, or include long-term care insurance costs.