Level 3

Marketplace Health Insurance for Newly Married Couple

Forum|Forum|3 years ago
March 1, 2023
2 replies
12 views

My proseries tax software is not calculating a different alternative monthly contribution amount for the months my taxpayers were not married. Any help? I tried support and they told me that there is no alternative allocation and that since my taxpayers were married on the last day of the year that we had to use their joint income for every month's PTC calculation.

This topic has been closed for replies.

rbynaker

Level 13

Support is correct. Usually bad things happen when someone on Marketplace insurance gets married. Welcome to the law of unintended consequences.

Usually the only thing you can do is look at filing MFS to limit the payback amount (but often this still results in higher overall total tax.)

A

amycAuthor

Level 3

No text available

T

TaxGuyBill

Level 15

It most likely is checking if the alternative calculation lowers the repayment, but in many cases it does not lower the repayment.

Have you manually checked if the repayment would be lower if they used 50% of the Joint income in the non-marriage months?

A

amycAuthor

Level 3

They get the PTC for the first 9 months when they were not married if I use 1/2 their joint income when I manually calculate. PS isn't calculating it.

T

TaxGuyBill

Level 15

I assume you've filled out the allocation information in ProSeries? You have (1) filled out the month in the spot between lines 8 and 9 and (2) fill out Part V?

Even though they don't qualify for the credit when filing as MFS, it can still limit the repayment.

Sign up

Login with SSO

Let's get you signed in

Login with SSO

Scanning file for viruses.

This file cannot be downloaded