topic Re: 2024 Form 8962 - Using 2023 Poverty Level (Line 4)? in Get your taxes done using TurboTax

2024 Form 8962 - Using 2023 Poverty Level (Line 4)?

RWS5 — Tue, 18 Mar 2025 19:26:50 GMT

Hello - For my 2024 taxes, I noticed that on my Form 8962 Line 4 (Federal Poverty Line) it is showing '$19,720' for a Tax Family Size of (2). Per the HHS.gov website's tables, this amount of $19,720 is shown for 2023, while $20,040 is shown for tax year 2024 for a family size of (2).

Can someone please confirm that this is an error within TurboTax and not a misunderstanding on my part. If indeed an error, I will need to request money back from the IRS.

Re: 2024 Form 8962 - Using 2023 Poverty Level (Line 4)?

DavidD66 — Tue, 18 Mar 2025 20:06:51 GMT

The amount used by TurboTax ($19,720) is correct according to the Instructions for Form 8962 (2024)

Re: 2024 Form 8962 - Using 2023 Poverty Level (Line 4)?

RWS5 — Wed, 19 Mar 2025 12:43:25 GMT

Thank you for your reply...

Yes, I saw what you posted in the Form 8962 instructions, however, this is not what is shown on the 'HSS.gov' website:

https://aspe.hhs.gov/sites/default/files/documents/7240229f28375f54435c5b83a3764cd1/detailed-guidelines-2024.pdf

Per the same HSS.gov site, below is for YR 2023:

Hmmm...

Re: 2024 Form 8962 - Using 2023 Poverty Level (Line 4)?

CatinaT1 — Wed, 19 Mar 2025 13:24:39 GMT

Eligibility is based on the the prior year Poverty Guidelines. See this IRS site.

For purposes of the premium tax credit, eligibility for a certain year is based on the most recently published set of poverty guidelines at the time of the first day of the annual open enrollment period for coverage for that year. Consequently, the federal poverty guidelines published in January of 2020 are used for premium tax credit eligibility for 2021.

Re: 2024 Form 8962 - Using 2023 Poverty Level (Line 4)?

rgperrijr13 — Thu, 05 Feb 2026 20:58:11 GMT

I'm seeing the same issue and I'm trying to amend my return to use the 2024 number of $20,440. Either way, Turbotax is ignoring the FPL, line 4, Form 8962, of in my case 98% therefore ignoring the safe harbor rule. Ignoring the safe harbor rule, meaning a shaded line 6, rejects me from getting a ~$3600 return. SO is it truly an issues with the software?

Re: 2024 Form 8962 - Using 2023 Poverty Level (Line 4)?

DawnC — Thu, 05 Feb 2026 21:23:04 GMT

When filing the 2025 tax return, you use the prior year's (2024) federal poverty line. See Form 8962 instructions

@rgperrijr13