TT seems to have a cliff for the Premium Tax Credit on 8962 instead of a phase-out

Forum|Forum|3 years ago
November 30, 2022
2 replies
16 views

Maybe they extended the phase-out after that form was released? Will there be another update before the end of the year?

Best answer by Critter-3

Click on the REVIEW tab to see which forms in your return are not yet ready for efiling and the ESTIMATED date they will be ready.

Mike9241

Level 15

here are links to form 8962 for 2022 and instructions.

if line 5 (household income as % of federal poverty line) is over 400% line 7 is .085

https://www.irs.gov/pub/irs-pdf/i8962.pdf https://www.irs.gov/pub/irs-pdf/f8962.pdf

Mike9241

NCperson

Level 15

@cindi11 if you look in Forms VIew, you should see in big red letters DO NOT FILE and there is an error posted with the form stating that is has not been approved or released (by the IRS) at this time.

That is triue for a number of forms in Turbo Tax at this time of year. So to answer your question, there will be an update to this form as you can not file it - via e-file or paper at this time.

All the red exclamation points in the left column of Forms View must be resolved before you can efile. Turbo Tax will do that on all the 'DO NOT FILE" forms (normally by the end of January)