You can subtract some expenses from your income on your Marketplace application.
You can only report:
- Alimony you pay (only if your divorce or separation was finalized before January 1, 2019)
- Interest you pay on a student loan
- IRA contributions (if you don’t have a retirement account through a job)
- Educator expenses (if you’re a teacher and pay for supplies out-of-pocket)
- Health Savings Account (HSA) deposits (in limited situations)
If you're self-employed, subtract your tax-deductible expenses when you figure out your net self-employment income to enter on your Marketplace application. The expenses you can subtract are the same tax-deductible items allowed on Schedule C of your IRS 1040 tax return.
These expenses don't count on your Marketplace application. Don't report and don't subtract from your income:
- Charitable contributions
- Child or dependent care expenses
- Child support payments
- Medical expenses
- Mortgage interest
- Moving expenses (except for military moves)
- Property taxes
- State income taxes
- Tuition costs