How can I get TurboTax to use the Form 8962 Line 11 Annual Calc instead of Monthly Calc after inputting 1095A? Difference is costing me $40. (Mid-year plan change)

chess_tramp · ‎February 3, 2021

I retired mid-year and switched plans, which resulted in a change in monthly premiums. I calculated my Premium Tax Credit as an annual number based on my annual AGI. TurboTax uses the monthly calculation, which means that months where my premium was higher will only get the average monthly credit. If I could reconcile using the Annual Calc, then I would get more $$$ back.

MarilynG1 · ‎February 3, 2021

You are correct, the annual AGI is used in calculating Form 8962, not the monthly amount.

Click this link for more info on How to Reconcile your Premium Tax Credit.

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chess_tramp · ‎February 3, 2021

Thanks for your response, but it didn't really address my question. Yes, on Form 8962 Part 1 the Annual API is used. My concern is with Part 2. TurboTax used the Monthly Calculation from Lines 12-23. I would like to use Line 11 = Annual Calculation instead, but I don't see how I can get TurboTax to use this calculation instead. (It's a $40 difference for me.)

MarilynG1 · ‎February 8, 2021

The calculation for Form 8962 can't be changed in TurboTax, sorry.

If you used the Desktop version, you can enter amounts directly on the form, but changing the calculation may cause an error and prevent efiling.

This link on Form 8962 may help you.

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How can I get TurboTax to use the Form 8962 Line 11 Annual Calc instead of Monthly Calc after inputting 1095A? Difference is costing me $40. (Mid-year plan change)