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ARPA, TurboTax, and excess advance premium tax credit repayments. Manually adjust or wait to file?

So it looks like IRS has issued guidance, as of March 23, on changes to forms to reflect the ARPA related to unemployment. But, it doesn't look like the IRS has issued guidance on ARPA changes related to advance premium tax credit repayments, so I'm assuming that's why I don't see any changes yet in TurboTax related to the health insurance premiums -- is this correct? If so, and if that guidance and resulting changes to TurboTax don't happen soon, is it OK to attempt to manually adjust my return to reflect the change? (Not preferable, I know, as so many other figures are affected by this one number). 

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4 Replies

ARPA, TurboTax, and excess advance premium tax credit repayments. Manually adjust or wait to file?

best to wait (and can't imagine it can be that much longer)

'

if you manually adjust and do it wrong, the TT guarantee won't cover you 

jenoi2
New Member

ARPA, TurboTax, and excess advance premium tax credit repayments. Manually adjust or wait to file?

I had the same issue and decided to wait for a TurboTax update.  Logged in to the return today and a notice popped up that the ARPA benefits have been added to the federal return, just not any states yet.  But TurboTax is still calculating an excess advance premium tax credit.  What am I missing?  Has TurboTax not actually updated for the advance PTC provisions yet?

ARPA, TurboTax, and excess advance premium tax credit repayments. Manually adjust or wait to file?

on the advance premium tax credit, I don't even see on the IRS website where they have issued guidance yet.... 

 

the unemployment has been issued and TT has implemented that 

ARPA, TurboTax, and excess advance premium tax credit repayments. Manually adjust or wait to file?

Yes, I noticed that recently too. I think maybe TurboTax has updated the changes related to Unemployment, but not the PTC changes. Which I'm guessing is due to IRS not yet issuing guidance on the PTC changes... https://www.irs.gov/forms-pubs/changes-to-cur[product key removed]cations

 

Hoping someone from TurboTax will jump in and clarify!

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