Form 8962 Premium Tax Credit(PTC) is WRONG. Turbotax is not allowing for the PTC for MAGI income of over 400% FPL for tax year 2022 as passed in the American Rescue Plan Act of 2021 and as extended through 2025 in the Inflation Reduction Act

[Frantastic13]

I believe I qualify for PTC based on what is written on the IRS website and in the Affordable Care Act. I’m being told I don’t by TurboTax (both the software and by tax experts) for various reasons without proof to back up the claim that I don’t. 

[BrittanyS]

To be eligible for the premium tax credit you must meet the following requirements:

• You or a tax family member enrolled in health insurance coverage through the Marketplace for at least one month of a calendar year in which the enrolled individual was not eligible for affordable coverage through an eligible employer-sponsored plan that provides minimum value or eligible to enroll in government health coverage – like Medicare, Medicaid, or TRICARE.
• The health insurance premiums for at least one of those same months are paid by the original due date of your return. They can be paid either through advance credit payments, by you, or by someone else.
• You are within certain household income limits. For 2021, if you, or your spouse (if filing a joint return), receive, or is approved to receive, unemployment compensation for any week beginning during 2021, your household income is considered to be within these limits.
• You do not file a married filing separately tax return.
  • There are exceptions for certain victims of domestic abuse and spousal abandonment. For more information about these exceptions, see the Premium Tax Credit questions and answers.
• You cannot be claimed as a dependent by another person.
• You are not eligible for the premium tax credit for coverage purchased outside the Marketplace. 

See the link below to help determine if you are eligible:

 Am I Eligible to Claim the Premium Tax Credit

@Frantastic13 

[Frantastic13]

Thank you, I meet those requirements based on everything I’ve read and researched. 

[AliciaP1]

It would be helpful to have a TurboTax ".tax2022" file that is experiencing this issue.

You can send us a “diagnostic” file that has your “numbers” but not your personal information.  If you would like to do this, here are the instructions: 

In TurboTax Online, go to the black panel on the left side of your program and select Tax Tools. 

1. Then select Tools below Tax Tools. 
2. A window will pop up which says Tools Center.  
3. On this screen, select Share my file with Agent. 
4. You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number. 

In TurboTax CD/Download versions, go to the black panel on the top of your screen and select Online. 

1. Scroll down to and select Send tax file to Agent. 
2. You will see a message explaining what the diagnostic copy is.  Click send through this screen and then you will get a Token number. 

Reply to this thread with your Token number. This will allow us to open a copy of your return without seeing any personal information.   

We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.

@Frantastic13