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Level 1
April 12, 2022
Solved

Form 8962

  • April 12, 2022
  • 1 reply
  • 13 views

I have AGI of $42k but form 8962 is calculating the AGI as a percentage of poverty on line 5 as 133% (vs. 333%) and therefore the applicable figure on line 7 is 0.00.  It is causing a credit larger than what I calculate myself manually.  How do I fix this? Or am I missing something.  

    Best answer by MinhT1

    If you were eligible for unemployment or received unemployment benefits in 2021, your percentage of poverty level is considered to be no greater than 133%. This will make you eligible for a higher premium tax credit.

     

    Please read this IRS document for more information.

     

     

    1 reply

    MinhT1Answer
    Level 15
    April 12, 2022

    If you were eligible for unemployment or received unemployment benefits in 2021, your percentage of poverty level is considered to be no greater than 133%. This will make you eligible for a higher premium tax credit.

     

    Please read this IRS document for more information.

     

     

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