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Homeby51
New Member

Turbo Tax computing wrong ACA tax subsidies...

I live in Florida. My MAGI for my spouse and I is $28,822. TT is claiming I am only allowed $15,951 per year in subsidies when the Healthcare calculator computes I am allowed $19,956 per year. 

My insurance premiums were $17, 592 per year. This means TT is computing I owe the IRS about $1600 in error. How do I correct this mistake?

Thanks

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2 Replies
ErnieS0
Expert Alumni

Turbo Tax computing wrong ACA tax subsidies...

I don't have all your numbers, but if I enter a married couple with $28,822 in income and $17,592 in health insurance premiums, I get your total insurance premiums eligible for subsidy ($17,592).

 

You may wish to speak to a Tax Expert who can look over your return with you.

 

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Homeby51
New Member

Turbo Tax computing wrong ACA tax subsidies...

That's correct. The problem is TT is saying I do not qualify for that amount...which is wrong. 

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