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June 5, 2019
Question

In which year can I deduct health insurance enrollment payment?

  • June 5, 2019
  • 1 reply
  • 0 views

In which year can I deduct health insurance enrollment payment? (For the health insurance purchased on the marketplace with tax credits applied to the cost of the plan.)

For example, I enrolled for 2018 coverage and paid premiums for the first month of the coverage in November, 2017. In which return can I claim deduction for my self-employed activity?

1 reply

Critter
Employee
June 5, 2019

If you pay the insurance premiums in 2017 they are deducted on the 2017 return.

Dmitry1Author
June 5, 2019
And how is that possible? I can deduct only amount adjusted for tax credits. But I don't know actual tax credits for 2018 in 2017!