2022 Premium Tax Credit Eligibility

Forum|Forum|3 years ago
December 12, 2022
15 replies
105 views

When will TurboTax 2022 support the expanded eligibility requirements for the premium tax credit? At present (12-Dec-2022), the program appears to apply a hard limit of 400% of the Federal Poverty Line. With a MAGI slightly above that figure, TT2022 calculates the value of PTC as zero.

From the IRS website:

2021 and 2022 Premium Tax Credit Eligibility. For tax years 2021 and 2022, the American Rescue Plan of 2021 (ARPA) temporarily expanded eligibility for the premium tax credit by eliminating the rule that a taxpayer is not allowed a premium tax credit if his or her households income is above 400% of the Federal Poverty Line.

Critter-3

Level 15

Not sure what your exact question is just be aware that the TT program is not fully functional and that 1095-A & 8962 sections are not expected to be ready until 1/19/23

https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product=Turbotax_online&bu=cg

Critter-3

Level 15

https://www.irs.gov/affordable-care-act/individuals-and-families/eligibility-for-the-premium-tax-credit

pdannawdm

Level 2

Just got the 1/12/23 update for the 1095A and 8962 forms which say that they are available to file now. They did not include the PTC Eligibility for household income over 400%. Per the original question. I saw a reply that said they would be available on 1/19/23. Any idea of when this will be corrected?

DianeW777

Level 15

Form 8962 is available for use now. By using the information below you can determine if you are eligible. You can use the hyperlinks for more information.

The federal poverty level chart can be accessed at the following link: Federal Poverty Levels (FPLs)

Eligibility requirements for the premium tax credit

You must meet all of the following criteria to qualify for the premium tax credit:

You must get your health care coverage through the Marketplace
You can't be eligible for health care coverage through alternative options such as your employer or the government
Your income needs to fall within a certain range
Another person can't claim you as a dependent on their return
You must file a joint return if you're married
For more information click here.

In the Search box in the upper right corner type 8962 > Jump to 8962 > follow the screens. It's important to complete the Form 1095-A correctly.

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spaceoddity

Level 2

@DianeW777 For 2022, please be aware that an issue with the 8962 calculations have been seen by many users, and it isn't even using the current 2022 FPL for its calculations. See below for more details. If you could help escalate this to the proper people, a lot of folks would be very happy! 🙂

https://ttlc.intuit.com/community/taxes/discussion/re-form-8962-tax-credit-calcula[product key removed]tax-desktop/01/2816254

Thank you!