To all on this forum:
Like many others, I'm super disappointed with TT Year. I've been using the product for about 20 years - Getting worse with each passing year.
While reluctant to resubmit (since many on this post haven't seen any change in numbers), I'll probably do the same to get this wrapped up. While I'm not a tax expert, it doesn't make sense to me. As it relates to the PTC (premium tax credit) and the American rescue plan this year, form 8962 is not required to be filed (and not carried forward into Schedule 2, Part 1, line 2-3. All this makes sense. What doesn't make sense is that while that doesn't need to be repaid, theoretically, it should not be bundled into the income adjustment and taken as a deduction - Line 16 of Schedule 1 (Self-employed health insurance deduction) as that money was not paid out. I think that number needs to change, offsetting the PTC??
What does this mean in the end? Will our taxes be accepted and then later on we get a letter from the IRS stating we have to amend out taxes and pay more? Any help from tax accountants on this forum and Turbo Tax would be helpful in clarifying this point
I'll probably re-submit mine to get them over the finish line, but will assume that I'm not totally out of the woods this year, despite a potential acceptance notice from both the Fed and State.
