TurboTax 2022 form 8962 Premium Tax Credit

[TeeAnn]

Couldn’t agree more. Why remain quiet, complaints and discussions are what this forum is for.

It’s a shame TT doesn’t just issue this simple fix. I’m a 30+ year user and always been a big fan. But in addition to important estimates, this is an important form for many young people who need whatever refund they can get, and want to know the scoop and this mistake is big and scary. (Lol, non-paying early twenty somethings are my biggest customers.)  Also, they can no longer use a free version (Maybe this has changed?) This is a big mistake on Turbotax’s end, the kids I have finally gotten to do their own returns are turned off… not good for future TT customer base.

[MD1947]

line 11 a & b on form 8962 are not being populated from line 33 a & b from form 1095-A . Also Line 8 a on form 8962 is not being brought down to line 11 c. Consequently none of the subsequent calculations are correct. I called a Turbotax "expert" but she couldn't figure it out. How does this get reported so it can be addressed by Turbotax? 

[James Br]

It has been reported for some time. No official acknowledgement saying it is an error.  But they say they are looking at it.  Time to move to a better product.

[alsn]

A free "1040 Excel spreadsheet" computes the PTC on form 8962 correctly 🙂 TT - please take note.

[Critter-3]

Yes but the TT program is much more intricate than a simple excel spreadsheet.  You cannot just make a couple of clicks to fix this issue since it affects a few other forms.  The correction must be programed, tested AND approved by the IRS (which is usually the hold up) before it can be released for use. 

[alsn]

However, the spreadsheet is quite elaborate for a free product and should meet most people's needs. Also, based on the description, it was developed by one person which is quite impressive. Oh, and it works!

[Anonymous]

@alsn can you please provide a link to the spreadsheet?

[alsn]

Google "1040 excel spreadsheet 2022" - it should be the top link.

[mmj654]

What I don't get, is why do they need to "implement a correction" for something that should work exactly like last year?  That is the frustration.

[Tm40plus]

It is a bug and did the same thing last year before it was corrected.  I sent a direct message tweet to explain the error.  It should mark box 10 no and fill in box 12 thru 24 to compare the monthly contribution calculated from your modified adjusted gross income to the SLCSP from 1095A line 21-32b.

[MD1947]

What is annoying to me (besides paying for something that isn’t working correctly) is that you receive no warning when using the product that there are issues.

[Tm40plus]

Agree, if i didn't know the tax law i would assume i didn't qualify for the PTC and overpay the tax.  The IRS should catch it but that would be costly and time consuming.  Originally the Form said it wouldn't be ready until 1/19/23.  All the forms are not updated yet so waiting until all are complete we should see it corrected like i experienced last year 2021.

[paloechel]

I found the exact same error.  I spent two hours on the phone with a TurboTax agent who wasn't able to help.  

[Polkadot1]

@paloechel Do you think the issue was just too complex for the TT rep to understand?  Every time I call them and try to explain even a simple issue, it seems to go way over their head.  It is difficult for me to understand how they are employed in a job where a basic understanding of taxation should be a requirement to even get the job in the first place.

[Critter-3]

Everybody just hang in there and wait for the fix ... the tech  support you are talking to on the phone  are NOT in the department  making the correction to the program  and they have known of this issue for more than a week now.   Please try to be patient and know the IRS will not start processing returns until next monday even if you were to get accepeted for processing this week in a test batch.