There could be an error in your wages and income entries. The obligation to repay part or all of the advanced premium tax credit is determined on how your household income compares on a percentage basis to the federal poverty line. For example, the IRS instructions for Form 8962 indicate that if the amount on line 5 of Form 8962 is "at least 300 but less than 400," then the amount on line 28, for a filing status of single, will be $1,350. Because your return is currently showing an obligation to repay $1,350, it would appear that your household income is falling somewhere between 300% and 400% of the federal poverty line.
Let's do a quick check of your return as it exists now. If you are using TurboTax CD/Download, click on the Forms tab (you will see the Forms tab in the upper right side of the page). After clicking on Forms you will see a list of your tax forms on the left side of the page. Click on Form 1040 and review your income entries to determine if they are correct. Line 11 of the Form 1040 will be your adjusted gross income and line 15 will be your taxable income. If you need to make changes, click on Step-by-Step (upper right side of the page) and go back to the Wages and Income section to make whatever changes are necessary.
If you are using TurboTax Online, here are the steps to follow to preview your Form 1040:
1. Open or continue your return.
2. Select Tax Tools in the left menu (if you don't see this, select the menu icon in the upper-left corner).
3. With the Tax Tools menu open, you can then:
a. Preview your entire return: Select Print Center and then Print, Save, or Preview This Year's Return (you may be asked to register or pay first).
b .View only your 1040 form: Select Tools. Next, select View Tax Summary in the pop-up, then Preview my 1040 in the left menu.
If your adjusted gross income amount, (line 11 of Form 1040) does not look correct, go back to your return and make whatever changes are necessary. Your adjusted gross income consists of your W-2 wages, interest, dividends, capital gains among other things, so ensure that these amounts are consistent with the amounts entered on Form 1040. If changes need to be made, go back to your return, and click on the Wages & Income section and make the necessary changes.
Lastly, let's go back and check the entries you made to Form 8962. At the top right side of your page, in the search bar, enter Form 8962. You will see a jump to link. Click on that link and it will take you to the part of the TurboTax application relating to Form 8962. You should have received Form 1095-A, which is the Health Insurance Marketplace Statement. You will likely need Form 1095-A as you check your entries on the pages that relate to the premium credits. Here is a link to the pdf file of the IRS instructions for Form 8962. Additionally, here is a pdf link to Form 8962.
Instructions for Form 8962
Form 8962
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