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Angie2
Level 3

Is TT 2019 calculating Premium Tax credit (PTC) on form 8962 correctly?

On forms 1095-A I received from the IRS, under column B (SLCSP), they put down $1,150.36  for those 3 months that I claimed advanced premium tax credit and $0 for the other 9 months that I did not. Based on our income (under 400% FPL), I am expecting to receive a few thousands premium tax credit back for the year. However, TT calculates that to be $26, which doesn't make sense at all. I suspect it's those $0 months under column B that throws it off.

So I tested by entering the same $1,150.36 in all 12 months (we have not changed health plans so that SLCSP amount should be the same every month), then TT gives me the amount of PTC that I am expecting. So what to do? Is it an error from IRS? Or TT needs to revise their form 8962?

2 Replies
DoninGA
Level 15

Is TT 2019 calculating Premium Tax credit (PTC) on form 8962 correctly?

For all months with a 0 (zero) in the columns, leave those columns blank (empty)

Angie2
Level 3

Is TT 2019 calculating Premium Tax credit (PTC) on form 8962 correctly?

Thank you. I took out all those $0 months and TT flagged "Please enter an amount" and cannot continue unless I enter something in those boxes under column B.

But I think we can mark this as 'solved'.  I called up the Marketplace 1095-A helpline (this is NY) and the rep told me I should go by what is on the 'chart' (one of the attached sheet that came with the 1095-A that has a chart of SLCSP) for those months that has $0 under column B (note: I didn't not change plan or residence all year last year, so maybe different for those who did).  I asked her if they can reissue me another form 1095-A that has the column B filled out correctly, but she said no because the original form was not 'incorrect'. So there.

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