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L
LB56
Level 4
April 4, 2024

Premium Tax Credit

  • April 4, 2024
  • 1 reply
  • 7 views

client is a graduate student with only income being $2287 (and a $64K tuition bill!). She had a 1095-A with one month paid for by this so-called credit for $220 paid under column F Monthly Adv Pmt PTC. Now they want it all back? This doesn't seem correct.

    1 reply

    T
    TaxGuyBill
    Level 15
    April 4, 2024

    Does this client qualify as a dependent?

    Line 3 of the 8962 shows $2287?

    Have you gone through the error check/review?

    What is the client's filing status?

      L
      LB56Author
      Level 4
      April 4, 2024

      Not a dependent, yes line 3 shows 2287

      Filing status is single

      Did error check; no errors

      T
      TaxGuyBill
      Level 15
      April 5, 2024

      Line 29 is showing the repayment of the Advance credit?

      You have a number entered for the SLCSP, right?

      What software are you using?  ProSeries does it automatically, but maybe you need to indicate that the Marketplace approved Advance credit so they still qualify even when their income is below 100% of the Federal Poverty Level?

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