Premium Tax Credit Form 8962 Error on Line 11 -- Does not Calc Properly

Forum|Forum|3 years ago
January 13, 2023
3 replies
4 views

TurboTax Deluxe Desktop is not transferring information from Form 1095-A over to Line 11 of Form 8962, and it does not allow me to override (write in) the values on Line 11. This it is showing that I must repay the entire $8,364 premium tax credit I received, when I am actually entitled to about $3,000 of that credit based on my income.

Attached is a screenshot. Why are values for columns A through E not automatically inserted by the software. It seems to be an error in programming. Are others having this problem?

How do I inform TurtoTax of the issue?

Anonymous_

Level 15

This is likely a known error (or related to another one). Please stay tuned for updates.

DawnC

Level 15

On your 1095-A, are there amounts listed in Column B? For each month you had insurance, make sure you do not input $0 in Column B. If your 1095-A reflects $0, reach out to your marketplace provider to find out what the Second Lowest Cost Silver Plan amount was. You may also find this information using the Department of Health and Human Services tax tool.

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sanfranwinter

Level 2

There is a bug in the software...the premium information entered into Form 1095A , part III line 33, columns A, B and C is NOT being transferrred to form 8962 line 11 (or lines 12 - 23). This is generating an incorrect excess advance payment of PTC figure.

Polkadot1Author

Level 5

Is there any way to inform TurboTax staff of the issue?

plutaxi

Level 2

I have the same issue.

Critter-3

Level 15

THIS IS A KNOWN ISSUE AND A FIX WILL BE FORTHCOMING IN A FUTURE UPDATE. The IRS will not start processing returns until the 23rd so everyone needs to have a bit of patience while this issue is corrected.

Polkadot1Author

Level 5

@Critter-3 I am only raising the issue since Q4 Estimated Tax Payments are due on January 17th. Having to pay back the full $8,300 in PTC by Jan 17 if I really don't need to is a big issue. This is just a simple linking of line items from the 1095-A to the 8962, something TurboTax should have programmed correctly in the first release of the software.