I had Marketplace insurance for the whole year. On my 1095-A, Column A is filled out with my premium. Column B is all $0 except for the month of February where we received a premium tax credit. Column C is $0 except for February where we received a PTC. Turbo tax said to use the marketplace tool for the SLCSP to input for all the $0's in column B on my Form 8962 since we paid full price for those months. I left column C exactly as my 1095-A looks like. IRS came back and said this is incorrect and need to provide an amended Form 8962. What's the next step here?
EDIT: Got with an actual accountant and go it solved.
I just received a Letter 12c regarding our 8962 and associated 1995-A as well. I double checked our filed return, it matched. I mailed them a copy of our 1095-A. I’ve been wondering if there is a glitch in their processing of this form this year.
You are not alone.
Did you have a shared policy and indicate this in the software? If not everyone on your policy is also listed on your tax return, you need to allocate the marketplace insurance. You can allocate it at any percentage you choose from 0% to 100% as long as the total allocated to all policyholders/taxpayers is not greater than 100%. For example, all amounts can be allocated as 100% on a parent's tax return, while a dependent can allocate 0% on their return. If not all policyholders are on the tax return, this can result in matching errors with the IRS.
Thank you for the reply. We are the only ones on the 1095-A - actually, it's in my name, but DH is the the only one covered by it. Same as 2023.
At this point, I'm more curious than concerned about what the issue is.
I will post back once I've heard more, or our taxes are processed.
While we cannot determine why the Letter 12C was sent, here are some links to help you respond to the IRS requests:
IRS Letter 12C Instructions from TurboTax