ACA 2021

Forum|Forum|4 years ago
January 26, 2022
1 reply
1 view

Ref: Forms 1095-A & 8962 – Health Insurance Marketplace Statement

How will Turbo Tax help filers with reconciling advanced ACA subsidy payments? I also understand subsidies can vary by state. Will Turbo Tax provide step-by-step prompts with calculations specific to each state?

BillM223

Level 15

Yes, After you tell TurboTax that you had Marketplace insurance, you will be asked to enter your 1095-A. The amount of your advanced Premium Tax Credit payments are on this form. TurboTax will reconcile the advanced payments with what you deserved at the end of the year and either add more PTC or subtract tax.

This is all done automatically.

It does not matter which state you are in, because all the information TurboTax need is on that 1095-A. Whatever differences there might be are covered by the information on the 1095-A.

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