Somehow my income is being inflated by the K-1 amount so that my wife's Premium Tax Credit is based off of this inflated income figure and not what I really made as income. Thus we have an exorbitant amount of money to pay back to the federal government.
Also, why would the Premium Tax Credit be $0. I can only think that now TT is listing my income as the higher amount and therefore we don't qualify for a PTC? Any thoughts.
EDIT: I just wanted to let you know as well that on the K-1 form the amount that my income is being raised by is the figure in box 5(Other portfolio and nonbusiness income). Is this considered income and should hit my taxable income? I would think that would make the inheritance, at least, partially taxable. Which to everything that my wife and I have read should not be the case.
