AnaGrahm
New Member

MAGI calculation done by Turbotax self-employed version on form 8962 is wrong, not adding half of my self-emp tax back in. Can I manually correct this form?

 

After you file

MAGI for Form 8962 is not supposed to add the 1/2 SE tax back, so the program is doing it correctly.

AnaGrahm
New Member

After you file

Do you know TaxGuyBill where then my real Magi is indicated? And what will the health exchange consult to confirm the Magi for eligibility issues?
AnaGrahm
New Member

After you file

Do you know TaxGuyBill where then my real Magi is indicated? And what will the health exchange consult to confirm the Magi for eligibility issues?

After you file

As you pointed out, it is on Line 2-3 of Form 8962.
AnaGrahm
New Member

After you file

Lines 2 and 3 should not be the same for self-employed persons. The form is autogenerated by TT, which is not adding back in half of self-employment tax, as required by the IRS. This system glitch makes the calculations incorrect. Users beware.

After you file

As I said before, MAGI for purposes of the Premium Tax Credit should NOT add back 1/2 SE tax.  The program is correct.