PTC (Premium Tax Credit) forgiveness for 2020 (via COVID Relief Bill) and TurboTax ineptitude

[amarcantesq2]

The question was simple, the original posters question related to whether TurboTax had updated its software to deal with the PTC waiver of the clawback. Very simple answer is all that’s required which is yes it has been updated. Just follow the instructions and the poster will reach the page that says you do not owe money. Very simple

[amarcantesq2]

It is there, Just fill out the 1095A, click it at the bottom and you will get to the page that says you owe APTC

[tyork123]

Follow on question about the PTC if married in 2020.

It seems Turbotax is only using the Alternative Calculation for year of Marriage if there was an EXCESS advance received.  If the  Alternative Calculation for year of Marriage results in a net premium tax CREDIT DUE to the taxpayer, then that calculation is not being used.  Instead it treats them as married all year and the PTC is $0. Is this correct?

Form 8962 -  line 24 is $7,050, line 25 is $6,276 but Line 26 is $0.

In other words, if the Alternative Calculation for year of Marriage results in a Net Premium Tax Credit due to the tax payer then does IRS say the Net PTC = $0 as TurboTax reflects?  Or is it equal to the amount you are eligible for using the Alternative Year of Marriage Calculation less the insurance premiums you paid?

[Stoney54]

Been waiting for weeks for Intuits software to update.  I go to e-file and it responds that my software needs an update.  I hit the update and it responds the software is up to date.  No help from Intuit, poor customer service.  If it is not fixed soon, I will use another software company and never recommend Intuit ever again.

[valentizen]

TurboTax Home Business for Mac is not updated still. Support doesn't know if it's gonna be updated by the deadline or if the developers even working on it. Meanwhile I wanted to use that refund for Q1 payment which is now past due.