topic Tax Year 2022 - Form 8962 Premium Tax Credit Not Being Completed - Miscalculating Repayment of Subsidies in Deductions & credits

Tax Year 2022 - Form 8962 Premium Tax Credit Not Being Completed - Miscalculating Repayment of Subsidies

super daddy — Tue, 10 Mar 2026 07:24:41 GMT

I am trying to estimate taxes for 2022 but there is a significant over estimate because of issues surrounding form 8962 - Premium Tax Credit From. The household will likely make a bit more than 400% of poverty level this year. I have completed the affordable care act questions in turbot tax desktop based upon 1095 estimates for 2022. Turbo Tax is completing my Schedules and 1040 as if I must repay all subsidies / assistance but that is not correct. The maximum I should have to payback I subsidies is 8.5% of my modified AGI.

When I look at form 8962, I see that my input into turbot tax as it relates to cost of plan, amount of SLCSP, subsidies, etc, are not carrying over to form 8962.

If I use Turbo Tax 2021 it calculates it more accurately but there are also a few changes between 2021 and 2022 so I don't want to rely upon 2021 for estimating/tax planning.

Is Turbo Tax 2022 just not ready to handle this yet? Might there be some other reason?

Re: Tax Year 2022 - Form 8962 Premium Tax Credit Not Being Completed - Miscalculating Repayment of Subsidies

Bsch4477 — Sat, 10 Dec 2022 20:24:24 GMT

There is no cap on repayment of subsidies above the 400% poverty level for 2022. But be aware that the program is not fully functional and will have multiple updates over the next months.

Re: Tax Year 2022 - Form 8962 Premium Tax Credit Not Being Completed - Miscalculating Repayment of Subsidies

AmeliesUncle — Sat, 10 Dec 2022 20:30:09 GMT

The program is not ready yet and is miscalculating the repayment. You'll probably need to wait until sometime in January before the portion of the program is working correctly.

Re: Tax Year 2022 - Form 8962 Premium Tax Credit Not Being Completed - Miscalculating Repayment of Subsidies

MJV — Sat, 14 Jan 2023 03:02:56 GMT

I have update the latest Turbo Tax update and it still is not calculating Form 8962 correctly for tax year 2022. It is like the cliff is back, which with the latest tax law the cliff was remove through 2025. On form 8962 Line 11 columns A through E are blank. When will Turbo Tax update the program?