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My estimated amount inputted through Healthcare was more than my true amount. Why would I have to pay the entirety back?

 
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3 Replies
BillM223
Expert Alumni

My estimated amount inputted through Healthcare was more than my true amount. Why would I have to pay the entirety back?

Please clarify...are you talking about inputting the numbers on the 1095-A? And what is this "entirety" you are referring to? The Premium Tax Credit on form 8962?

 

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My estimated amount inputted through Healthcare was more than my true amount. Why would I have to pay the entirety back?

When I input the 1095-A information, it states that I owe all of the APTC given in 2022. However, before accepting the tax credit, I overestimated what my true income would be. I can’t figure out why I would owe if when given the credit, the estimated income was more than what I truly made?

 

I hope this makes sense!

My estimated amount inputted through Healthcare was more than my true amount. Why would I have to pay the entirety back?

OK ... so you got a lower PTC because you estimated that your annual income would be much larger than it really was.  On your 1095-A  are there figures in all 3 columns ?   Did you review your entries in the program ?   Did you verify they are on the form 8962 correctly ?   

 

If so what are the amounts on the 8962 from lines 5, 7, 8b, 24 thru 29 ?

 

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