Our healthcare was purchased through the MarketPlace in 2018 and 2019. This September 2019, we received a Medical Loss Ratio Rebate Check for year 2018.
The IRS plans to update their FAQ section hopefully in 2-3 weeks (from 1/28/2020) since it hasn't been updated since 2012 on this subject, I was informed that we need to pay this back. The gal told me to enter the amount we received on line 12(a) box 3 (which is a fill in box) on the form 1040 for it should be considered a "tax due" in our situation. Where in Turbo Tax can I find line 12( a) that will let me enter MLR Rebate and the amount received in Box 3 ?
I was told every person's situation can be unique. We were not part of any employer group obtaining Marketplace insurance and we claim the standard deduction. She informed not this should not be reported as income but as a tax due.
