I am trying to do an early modeling of our tax situation for some year-end actions and running into an issue with the advance Premium Tax Credit reconciliation. I have the Dec. 8, 2022 program update installed (desktop version of Premier).
We are MFJ, have ACA/Marketplace health insurance and I have typed the relevant monthly premiums, SLCSP, and advanced premium tax credit into Form1095-a.
The Premier step-by-step does not ask who is covered by this marketplace plan, only the monthly premium, SLCSP premium, and advance Premium Tax Credit, so I have input the coverage information manually, including beginning and ending date, into the 1095-a.
Part I of 8962 correctly calculates our 8.5% contribution. Both the Marketplace plan we have and the SLCSP premiums are higher than this number.
Part II of 8962 does not populate the totals from 1095-a into line 11 with the exception of the advance Premium Tax Credit payments, so it leaves the total plan premiums and total SLCSP premiums empty. I cannot override these fields. The software is also putting the Marketplace plan premiums into Schedule A deductions for Medical expenses, which it should not.
The net is that 100% of the advance Premium Tax Credit payments are shown as needing to be repaid, which is grossly incorrect. This makes it impossible to correctly model what-if scenarios for Roth conversions and/or realizing long term capital gains.
A timely fix to this issue is appreciated. There are only 2 weeks remaining to make any Roth conversions or realize capital gains for 2022.
