TT 2021 Form 8962 - Error calculating repayment limitation?

[Dannygirl432]

I have compared the 2021 Form 8962 with the same TT IRS Form 2020 and have noticed the column C is missing in PART II-line 11. This column is for the annual contribution amount as well as the deriving factors in line 8a-8b.  I am not seeing where to list my contributions that I paid out of pocket for my part of the health marketplace premium used.  Or reconcile by subtracting column C from column B or inserting 8a into column C

[Bill2022]

I downloaded from the IRS the 2021Instructions for Form 8962. On Page 4 it states the following which may be helpful:

 Monthly contribution amount. Your monthly contribution amount is used to calculate your monthly credit amount. It is the amount of your household income you would be responsible for paying as your share of premiums each month if you enrolled in the applicable SLCSP. It is not based on the amount of premiums you paid out of pocket during the year. You will compute your monthly contribution amount in Part I of Form 8962.

[rahokr]

Yesterday I spent over an hour trying to explain this problem with Customer service with no admission on your part that there is a programming problem with 8962. After reading accounts over and over since early January 2022 I am concerned that nothing is being done to correct this issue. Please realize that there are hundreds of people who cannot submit their taxes without them being rejected by the IRS. PLEASE FIX THIS FOR US ALL!! 
I am a long time user of your product, please don’t leave me stranded. 

[maestrowork]

Same issue for me -- no matter what the % stays at 133% which is incorrect.  My value should be somewhere between 300% and 400% (national poverty level is about $17K for household of 2).

This needs to be fixed.

[maestrowork]

I'd not heard this special rule for 2021 -- good to know. So since I had UI for part of 2021, the % will stay at 133% no matter if my year-end AGI is (which could be more than 400% NPL).   That's a good deal.  Thanks for the clarification, also that this only applies to 2021.

[maestrowork]

I just went to IRS and checked -- it is true about 2021.  Also, however, for 2022 tax year, the 400% limit does not apply.  However this special rule only works for 2021 and 2022.  So if your AGI in 2023 is going to be over 400% of FPL, then you're not allowed any Premium Tax Credit and must repay the entire amount you used.  So plan accordingly -- if you know you will make more than 400% FPL, don't claim the PTC for 2023.

[maestrowork]

Folks, this may not be an issue at all.  (sorry if this has already been mentioned since I didn't read the entire thread).

For 2021, if you and/or your spouse had unemployment benefits and you are MFJ then your over FPL will not exceed 133%.

Otherwise, for 2021 AND 2022 even if your level is over 400% FPL, you don't have to pay back the credit because of the new law.  However, this only applies to 2021 and 2022.  For any other year (meaning 2023 onward) the 400% rule would apply so plan accordingly. If you will be making more than 400% FPL, then don't claim any PTC or else you will have to pay it all back when you file your 2023 tax returns.

[jimkodet]

The IRS detected this error on my return and sent me an updated payment coupon.  I was also at 401% and the IRS sent me the corrected amount to pay. Wow - pretty obvious error for TurboTax to miss.

[wonbyjc]

I filed my taxes Jan 13 when your system said it was good to go. IRS accepted Jan 20. Due to the error with this form...I have been waiting for my taxes over 2 months now. I have used Turbo Tax for years but I wont ever again.  It could be several months more that I wait. I have filed an ammended to correct this error but still its very unprofessional to say the least

[noname87]

TT is still not correct. In my case, TT is limiting my self-employed deduction, TT does not appear to understand that once you are above 400% FPL that there in no limit to the deduction if your associate business income is greater that the deduction. I did not have unemployment income so no idea if that is a issue.

Basically sadly you cannot relay on TT in this case. who knows if tey will fix it by April 15.

[westcoasttexas69]

Return keeps getting rejected.  No 1095-A was issued.  Had health coverage all year long.

Was not looking for credit other health insurance paid.  I answered question no about receiving a 1095-A but answered yes was fully insured.

E-file keeps rejecting.

Token number 988026

[noname87]

If you purchased a plan on the exchange and qualified for a PTC then you should have a 1095-A. First check your messages on your exchange website. Or click on your application and on the leftr side will be a menu for tax forms. This works for the federal exchange. No idea about the state exchanges. if this doesn't work, care them. The federal exchange number has been well staffed and helpful.

[Kdrevis62]

I need to talk to a person about this.

[SForrestLO]

This FAQ will provide you with the steps to contact an agent. 

Customer support is available from 5 a.m. to 9 p.m. Pacific time daily.

@Kdrevis62

[impactntwk]

I've talked to 2 customer service reps about this already. Both hung up on me after not being able to solve the problem. They just can't figure it out. I had a workaround last year, but no one else can seem to figure out what that is, and I can't remember. It's maddening.