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Results tagged with tax-deduction
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user 52837
A tax deduction is a deduction that lowers a person’s tax liability by lowering his taxable income. Deductions are typically expenses that the taxpayer incurs during the year that can be applied against or subtracted from his gross income in order to figure out how much tax is owed.
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Is "premium tax credit repayment" deductible as health insurance cost for self-employed?
Per the IRS, any repayment of the advance premium credit is considered to be a premium payment in the same tax year, and is deductible as such. You can see the official IRS answer on their website at …
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