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J
judys3
Level 6
March 28, 2024
Question

Lump Sum Social Security and Market Place

  • March 28, 2024
  • 1 reply
  • 12 views

A customer received in 2023 Lump Sum social security $81,748.50 and had Market place insurance. The lump sum payment was received late 2023. After entering tax information it's want them to pay back all the credit that was allowed for the insurance.  Is this correct or did I miss something?

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1 reply

sjrcpa
sjrcpa
Level 15
March 28, 2024

Sounds correct. Their income is too high.

The more I know the more I don’t know.
    J
    judys3Author
    Level 6
    March 28, 2024

    I agree it's too high.  I was just hoping I missed a box checking something that they didn't have to repay due to it being a lump sum social security payment for 3 years.

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