TurboTax 2022 form 8962 Premium Tax Credit

[DoninGA]

Look at the bottom of this thread with what I posted 6 hours ago -

To all the users on this thread -

This problem has been reported to the TurboTax Moderators and is being worked on.

This is the response received from the TurboTax Moderators of this forum -

Thank you all for bringing this to us. This is a confirmed issue, and the team is working diligently to fix this as soon as possible. I am monitoring this closely and I will reach out when I have more information or a containment article to share.

Debra_S

[eagle5688]

Well, thanks for the confirmation. The email I received from TTax support team 2.5 hours ago still said TTax is correct. 

[BenCButler]

hi @MD1947

@pdxtony  posted this:

That's a reasonable idea, I've always been a fan of turbotax, but if it doesn't work...  If you bought the desktop version, like I did, you can request a refund.  It took me a while to find the link so here it is:

Refund Link:

https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-refunds/request-refund-turbotax-p...

    ...  you only have a 60-day window to return  ...

It is unbelievable that they are sending out official emails with the wrong

information. 

-----

I worked through the form by hand following the IRS instructions here 
https://www.irs.gov/pub/irs-pdf/i8962.pdf

And the  form clearly states that if you are over the 400% you pay 8.5% of your MAGI.
TurboTax is completely wrong on this.

[James Br]

It is very sad that TT will not even acknowledge it is a problem.  I recommend everyone go to their Facebook page and post the following.  It seems Social Media gets a much faster and better response.

‘Even though many people have reported the issue of form 8962 not working when MAGI is 400% of poverty level, TurboTax refuses to acknowledge there is a problem.  But every other software package gives the right answer on this form, which is different than TurboTax.  TurboTax states that once you pass 400% of poverty level income level, you get no subsidy.  But the IRS states this: “2021 and 2022 Premium Tax Credit Eligibility. For tax years 2021 and 2022, the American Rescue Plan of 2021 (ARPA) temporarily expanded eligibility for the premium tax credit by eliminating the rule that a taxpayer is not allowed a premium tax credit if his or her households income is above 400% of the Federal Poverty Line.”.  My money is that the IRS is right, along with all of the other tax software vendors and TurboTax is wrong.’

[BenCButler]

I  suggest everyone hit their facebook and twitter accounts. We
are reaching customer support reps that are blurting out false information
and providing the links to prove they are actually wrong at the same time.

[dbossardet]

The form 8962 is still not making the proper calculations.  It's not populating line 11 in my case.  

My software has been updated to the latest version and it still not working. Anyone know when the fix will be made.   2021 had no issue and worked fine!

[Tommy EV]

I tweeted and received a Message from Turbotax Support: 

"Thank you for providing that information to us! We do have an open investigation regarding this situation and are working on the matter diligently. Please take note, you are referencing a community forum post where any individual can assist by providing useful responses or added information to help other users. What information is provided is not always accurate or correct and should not be considered as legal or professional advice. We would love to gather some more information into your situation specifically so we can further research this matter and provide you with a prompt resolution! Can you provide what TurboTax version you are using (Online, Desktop, etc) and what device and operating system you are using to access our software? Thanks again for reaching out! -Benjamin"

I urge others to BLAST Turbotax Twitter and Facebook accounts

[Critter-3]

Blasting anything anywhere will not get the problem fixed any faster.   The department in charge of getting it fixed KNOWS about it so nothing more needs to be said or done. 

[James Br]

Have you bothered to read the posts in this thread?  People have posted TT response that the product is working correctly, so no action is needed.  TT needs to get their act together.  It has been weeks with no fix.

[Critter-3]

It is not working correctly and this entire thread has been berating this to death ... eventually it will be fixed so everyone needs to chill out and wait for the fix to be in. 

[DoninGA]

The team that handles the compilation of and the calculations within the tax forms and schedules is aware of the problem.  Unfortunately that information has not passed down to the support agents.

And FYI, the 8962 was released by TurboTax on 01/12, not weeks ago.

[James Br]

1. If some of TT knows it is a problem and some are giving out bad information then that means TT needs to get their act together.

2. A week before 1/12 release (I didn't know it wasn't released) form 8962 was doing the same thing.  When I complained it was wrong, I was told the form wasn't released yet.  But no message that stated that and numbers were wrong just like now.  I have screen shots and messenger that prove it.

So it has been over 2 weeks since I first notified TT of error.  I have the documentation to prove it.

[zacknauth]

You are correct, there is an error in the Form 8962; it is not transferring all the data from Form 1095, and then it is stating you owe 100% of the premium tax credit--that is wrong.

[zacknauth]

that is not the case; some folks will owe repayment of PTC

[artieskot]

• I think I now understand the TT commercial - "Come to TurboTax and don't do you taxes."