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Level 4
January 17, 2023
Question

2022 Proseries Form 8962 is not calculating when income over 400% FPL

  • January 17, 2023
  • 1 reply
  • 11 views

Proseries 2022 is not correctly calculating Form 8962.  It's refusing to fill in data when income exceeds 400% of Federal Poverty Line, even though that limit has been waived in American Rescue Plan Act Section 9661.  Support says it will be updated by 1/23, but the form is already listed as being ready to print and mail now.  BEWARE!

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1 reply

Level 2
January 18, 2023

I agree 8962 does not calculate correctly for income above 400% poverty level. It makes it difficult to tax plan in Dec. Or provide reasonable give estimate for taxes on Jan 15, 2023. Very disappointing!

Level 4
January 19, 2023

As of this morning's update, FINALLY, Form 8962 is properly populating.  The return I was working on has gone from $7,000 owed to a $1,700 refund.  Phew!

Level 3
February 14, 2024

The same issue is happening with the 2023 tax software. Form 8962 is not properly calculating.