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Deductions & credits
The endless circle of PTC to SEHI to PTC etc is like looking into a mirror with a mirror behind you ... it is never ending. So I was taught to compute the return without the SEHI deduction then look to see which way the PTC computed then using that make the SEHI deduction and STOP. Do not keep looking back and forth since you will never end the calculations and this is fine with the IRS.
If you did not take any of the advance credit an increase in the refund could be $4K or more ... review the entire return carefully before filing ... remember that you sign the return under oath that it is true, correct and complete.
‎October 24, 2020
8:58 AM