I was unemployed until 4/22/25. Spouse and I were on ACA healthcare from 2/1 -5/6. We owe underpayment and ACA repayment. How can this be reduced?

lsgold · ‎February 8, 2025

Will annualizing income help? If so, how do I calculate it?

MarilynG1 · ‎February 8, 2025

No, annualizing won't help for ACA repayment. The total income of the household for the year is considered when calculating this on Form 8962. If you're using TurboTax Desktop, you can view the calculations in FORMS mode.

In TurboTax Online, after you pay, you can View/Print/Save your returns to view the form.

The Repayment Amount is limited to the amounts on Table 5, on Page 17 of Instructions for Form 8962.

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View solution in original post

MarilynG1 · ‎February 8, 2025

No, annualizing won't help for ACA repayment. The total income of the household for the year is considered when calculating this on Form 8962. If you're using TurboTax Desktop, you can view the calculations in FORMS mode.

In TurboTax Online, after you pay, you can View/Print/Save your returns to view the form.

The Repayment Amount is limited to the amounts on Table 5, on Page 17 of Instructions for Form 8962.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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I was unemployed until 4/22/25. Spouse and I were on ACA healthcare from 2/1 -5/6. We owe underpayment and ACA repayment. How can this be reduced?