topic I kept researching this. I solved my problem by manually... in Get your taxes done using TurboTax

I overestimated my income for obamacare, shouldn't I get a PTC refund?

Jan1954 — Thu, 06 Jun 2019 17:58:54 GMT

I overestimated my income for obamacare and I paid my obamacare premiums in full, received no PTC.

TT indicates on the 8962 for that my % of FPL is 377%. As a results, shouldn't I get a small PTC refund when I reconcile this in my tax return? TT indicates I do not quality for PTC, 0 amount allowed.

I should add this info...I retired in 2017. I had company insurance through May, 2017. I signed up for obamacare for June - December and paid full premium cost for that. My final year-end income was lower than I thought, and put me in what I thought now should be eligible for PTC cause of the calculated FPL of 377%.

Unfortunately, it calculates based on your average annual...

kerriP — Thu, 06 Jun 2019 17:58:56 GMT

Unfortunately, it calculates based on your average annual income, and does not take into account that your income dropped in the middle of the year. However, double check and make sure you entered the information correctly from your 1095-A. You should have nothing entered for January through May on your 8962.

I entered the 1095-A info correctly. The 8962 TT genera...

Jan1954 — Thu, 06 Jun 2019 17:58:57 GMT

I entered the 1095-A info correctly.
The 8962 TT generated has the correct data as I entered in for the 1095-A except it added a value for all months in 12C - 23C (for monthly contribution).  The C column amount it added is less that the June - December A premium column I paid.
I'm a little confused with your answer.  The total income I received for the year is within the income level that is eligible for PTC.  If my total income is divided by month, wouldn't that still keep me within the PTC eligible level?

8962 (sorry, cut and paste didn't work): January - May =...

Jan1954 — Thu, 06 Jun 2019 17:58:59 GMT

8962 (sorry, cut and paste didn't work):
January - May = all zeros except all column C = 362.
June - December = all zeros except all column A = 499 and all column C = 362.

I kept researching this. I solved my problem by manually...

Jan1954 — Thu, 06 Jun 2019 17:59:01 GMT

I kept researching this. I solved my problem by manually entering the Second Lowest Cost Silver Plan (SLCSP) in column B of my 1095-A form in TT for the months I was on obamacare. I got the value for the SLCSP using the healthcare.gov Tax Tool. I now qualified for the PTC as seemed logical to me.
<a rel="nofollow" target="_blank" href="https://www.healthcare.gov/tax-tool/#/premium-tax-credit">https://www.healthcare.gov/tax-tool/#/premium-tax-credit</a>

It should. The problem would be if someone's income drop...

kerriP — Thu, 06 Jun 2019 17:59:02 GMT

It should. The problem would be if someone's income dropped dramatically in the middle of the year so that they qualify for the credit the last 6 months, but not the first 6 months. The first 6 months income could be so high as to make the average calculated for the 12 months, NOT qualify for the credit.