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Get your taxes done using TurboTax
I'll point a couple more things that I noticed:
- The worksheet for Form 8962 appears to be using 2021 federal poverty level (FPL). For a family of 3, according to the IRS, the poverty level is $23,030, but TT is using the 2021 number of $21,960 (for 48 states+DC). See here: https://www.healthcare.gov/glossary/federal-poverty-level-fpl/
- The worksheet doesn't calculate the proper percentage of the poverty line above 400% at all. It just sets it at 401%, if it's over at all.
So the current software version doesn't even include the property FPL, so it can't properly calculate the tax credits for ANYONE.
Also, whoever marked that long response about editing in Forms mode, please undo that! That's going to make TT think this is resolved, and it's a big problem that will affect millions of returns.
‎January 13, 2023
12:01 PM