8962

[sunflowerz]

I read that if I received or was eligible for unemployment in 2021 that it should help with the amount of clawback or repayment from my underestimate of my income for my aca marketplace insurance. Does Intuit Turbo tax correctly calculate this? I can't find box A to check on 8962 to say I had unemployment in 2021.  I can't find a way to manually check the box when I enter my 1095-A 

Any help?

[Vanessa A]

Yes, for Tax Year 2021, if you received unemployment your income was considered to be 133% of poverty level no matter how much you actually earned.  

This was only for Tax Year 2021.  If you are trying to file your 2021 tax return, you will just need to enter your 1099 G and then your 1095-A in the 2021 tax software which you will need to download as it is no longer available online. There is also a box to check saying you received unemployment in the 2021 software when you enter your 1095-A.  You cannot enter your 2021 information in the 2022 software. 

[sunflowerz]

Thank you very much for your help. I am trying to file my 2022 taxes. I entered my 1095-A  but I underestimated my income so it's showing I need to repay most of my Premium tax credit. I can't check the box noting that I received unemployment in 2021to cap it at 133%. 

If I download the software am I able to do my 2022 taxes?

[MinhT1]

The capping at 133% of poverty level if you received or are eligible for unemployment benefits applies only to tax year 2021.

This is no longer applicable in 2022.