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Level 3
posted Feb 7, 2025 3:41:14 PM

TT is saying amount of Market Place credit that was given was too much. I disagree. How can I dispute this?

At the point of entering 1095-A into TT. TT is now allowing the full credit I was given at time of signing up. My income is the same as I told MarketPlace it would be. MP gave me extra credit for putting money into my Roth IRA. Is TT not allowing for this? It is wanting me to pay over $500 more for my insurance.

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1 Replies
Expert Alumni
Feb 8, 2025 7:51:19 AM

Your Roth IRA contribution would not factor into your insurance premium tax credit. You may be confusing this with a Roth IRA conversion, wherein you transfer funds from a traditional IRA into a Roth IRA. Such a transfer can result in taxable income that can affect the income considered for market plan premium credits.

 

There would be no special treatment in calculating your premium tax credit as a result of you making a Roth IRA contribution during the year, except in the case that you did a Roth IRA conversion, in which case your income may be higher by the amount of the transfer. Assuming you entered your Form 1099-R reporting the conversion distribution, your premium tax credit should be accurately calculated on your tax return.