TurboTax 2022 form 8962 Premium Tax Credit

[udothat7]

My federal taxes just got rejected for Reject Code 8962andIncomegt400pct.  I'm confused as I thought the "cliff" was removed?  

[Critter-3]

You still have to enter the 1095-A in the program and produce an 8962  that is filed with your return ... until you comply the IRS will not accept the return.   And I don't think you fully understand what the "cliff" being  removed really meant... it did not remove the repayment of the advance credit in full. 

[udothat7]

Hi!  So I did file the 8962 with the return and it was still rejected.  I did not take any of the credits during the year also on last years returns when i entered my 1095 a info the software let me enter all zero's in column B ( which I realize now)  should have been filled out with the SLSP amount.  This year it will not let me pass that form if I enter 0 in the column B, so I enter the SLSP amount provided by NY and it gives me this credit.

[BenCButler]

@udothat7     This is really weird.  Have you tried calling in to the IRS? Have you gotten this resolved?  Keep us informed.  Thanks!

[pdxtony]

@udothat7 I wonder if you filed when TT had the bug in the form but after the form was declared done and ready to file (between 1/12 and 1/18) if I remember correctly.  If so then maybe the IRS did you a favor in rejecting.  For sure you want to make sure you have a value in column B of the 1095a.  If healthcare.gov put zeros in yours then you can find the right value for your location on the healthcare.gov site, or call their customer support.  Also, I'd make sure your TT is up-to-date.

[udothat7]

So, even more weird....I filed on 1/23 so form should have been fixed by then?  Anyway TT instructed me to just go to that section and click continue and refile, which I did.  I compared both 8962 sheets ( from first file and then from second file) nothing changed all values the same.......10 mins later return was accepted.  I have no idea tbh.  Just going to watch and wait hopefully it won't get sent back again.

[BenCButler]

That IS weird.  Well Im glad it went thru. 

I cant file till 2/2 when the EV crdit form is done, so ...  fingers crossed.  Thanks for the update. 

[csyoo]

The problem with Form 8962 not working properly has returned.

[TeresaM]

Can you please clarify in which way Form 8962 is not working?  

Is it with income over 400% of the poverty limit not calculating a Premium Tax Credit, as on the original post?  Or is it something different?

[csyoo]

It is not calculating Form 8962 correctly based on the data from Form 1095-A.  In Form 1095-A, I have $988 in line 13a, $930 in line 13b, and zero in line 13c.  This should flow through to Form 8962 with $930 in line 11b, $0 in line 11c, $930 in line 11d, $930 in line 11e, $930 in line 24, and $930 in line 26.  This should then flow through to $930 in Schedule 3, line 9, and Form 1040, line 31.

Instead, Form 8962 leaves lines 11a, 11b, 11c, 11d, 11e, 24, and 26 blank.  This in turn cause Schedule 3, line 9, and Schedule 1040, line 31, to be blank as well.  It will also not let me override the numbers. 

[csyoo]

FYI, my AGI is $1,334, well below the poverty line of $12,880.

[TeresaM]

To be eligible for the Premium Tax Credit, household income must be at least 100 percent and, for years other than 2021 and 2022, no more than 400 percent of the federal poverty line for your family size.

Line 5 of Form 8962 will show the percentage calculated and to be eligible for the credit, it should be no less than 100%. 

[genefrey]

The government did extend the income limits for 2022 and 2023, you can be over the 400% and still receive the premium tax credit. 

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.

[csyoo]

Thank you.

[Rialfo]

I have Turbo-Tax Home & Business.  But that edition does not provide for Forms 1095-A and 8962.  How can I get these forms?  Are they still needed?

Richard Foreman