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Level 2
posted Aug 21, 2024 10:26:02 AM

Reconciling Premium tax credit

I received a premium tax credit last year. I used turbotax to file. I filled out the 1095A info and the software completed the 8962 form. In the 1095 section it stated that I received $481 too much in premium tax credit, however when I go to the end of finishing my federal taxes, it said I owed nothing. It did not show at the end how or where I could pay the $481 and as I said, it showed $0 amount due. Thus, I filed electronically, it was accepted. I'm confused on the fact that the program said I received too much yet there was no way to reconcile. Has anyone used turbotax deluxe and owed money via the premium tax credit? Who do you even owe the money to, marketplace or the IRS? Confused.

0 2 26809
2 Replies
Level 15
Aug 21, 2024 10:51:45 AM

See if the amount is on line 17 of your 1040. Maybe your tax liability was offset by credits and withholding. 

Level 2
Aug 21, 2024 11:00:56 AM

Good call. The amount was there on line 17 but offset by child tax credits.