If I am a single filer and my taxable income was less than $23,540 why is turbo tax calculating that I have to pay all of my health insurance premium tax credits back?

[todd888]

Is the limit meant for gross income? I had gambling income that added to my gross income, but was offset with equal losses on Schedule A, was this the reason I lost my tax credits?

[IsabellaG · Accepted solution]

Yes, the reconciliation of the Premium Tax Credit is based on your Modified Adjusted Gross Income (MAGI), which would include your gambling winnings without reducing them by your losses on Schedule A. See Form 8962 for the calculation. In TurboTax Premier for MAC, you can see the forms in your return. To switch to Forms Mode, open your return, and then click the Forms icon in the upper left corner of your screen (or choose Go to Forms from the View menu at top). Then you can see what figures were included in your Form 8962.