JamesG1
Expert Alumni

Deductions & credits

I am not aware of an issue.

 

Your file IRS form 8962 to reconcile the advance premium tax credit with the actual premium tax credit.  If the advance premium tax credit is more than your premium tax credit, you have excess advance premium tax credit and you must repay the excess,

 

Did your income change from the projection that you gave the Marketplace at the beginning of 2022?  If it did change, was the change in income reported to the Marketplace?  Did the members of your family change from what was reported to the Marketplace?

 

Instructions for IRS form 8962 (page 2) states:

 

The Marketplace determined your eligibility for and the amount of your 2022 Advance Premium Tax Credit using projections of your income and the number of individuals you certified to the Marketplace would be in your tax family (yourself, your spouse, and your dependents) when you enrolled in a qualified health plan. 

 

If this information changed during 2022 and you did not promptly report it to the Marketplace, the amount of Advance Premium Tax Credit paid may be substantially different from the amount of Premium Tax Credit you can take on your tax return. See Report changes in circumstances when you re-enroll in coverage and during the year, earlier, for changes that can affect the amount of your Premium Tax Credit.

 

@CMS2324 

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