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Why is Turbotax applying the available foreign tax credit from form 1116 against the amount of the advance premium tax credit calculated as due for repayment under 1095-A
I have a FTC re Form 1116 and that credit is seemingly being used to reduce the USA tax due AND ALSO the calculated amount due re form 1095-A and the excess advance premium tax credits paid to me in 2024 that were due to be repaid. Can a FTC also be applied against the amount due to be repaid for the tax year under the ACA, as I cannot find anything that explains this being allowed despite the Turbotax online software clearly showing an elimination of that ACA related amount due by applying the FTC?
‎February 26, 2025
6:32 AM