June 3, 2019 12:27 PM
last updated June 03, 2019 12:27 PM
I received the Premium Tax Credit for all 12 months of 2018, and now TurboTax tells me that I am entitled to an additional lump sum payment of PTC in my refund.
I made less income than I expected to in 2018. However, I (unintentionally) neglected to change my income level on the health insurance marketplace. Had I done so, I would have been determined to be eligible for Medicaid.
My understanding is that you cannot take the PTC if you make less than (in my state) 138% of the federal poverty line, which, in 2018, I did.
My guess is that the software is coming up with this additional PTC because it is rectifying the difference in my expected and actual income for 2018. But, because I would have qualified for Medicaid had I updated my income, I technically should not have been eligible to receive the PTC.
My concern is that I am not actually eligible to receive the PTC refund that TurboTax is offering me.