If TurboTax is not calculating a Premium Tax Credit, then there is no allowance in your case.
- No, that is not the case for tax year 2021. Per IRS: If advance credit payments were made to your insurance company and your actual allowable credit on your return is less than your advance credit payments, the difference, subject to certain repayment caps, will be subtracted from your refund or added to your balance due for tax years other than 2020.
- Please click here for the Federal Poverty Level (FPL) for 2021 and scroll down to the 2021 POVERTY GUIDELINES FOR THE 48 CONTIGUOUS STATES AND THE DISTRICT OF COLUMBIA table. You may also want to review the 2021 Instructions for Form 8962, page 7.
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