What do I enter in the boxes for "Amount paid for health benefit plan in 2024" and "Excluded amount not eligible for credit" for the Utah Health Benefit Plan Credit?
When I click learn more it says: "The following items must be excluded when calculating the Health Benefit Plan Credit: "Amount of premiums paid that was used to claim a federal Health Coverage Tax Credit." What exactly does that mean? Is it referring to advanced premium tax credit?
For example: I entered form 1995-A into my federal forms which details my marketplace payments.
For ease, lets say my marketplace plan was $600 a month and I got a $200 monthly advanced premium tax credit so I paid $400 a month, 400x12=$4800 for the year.
Would I put the $4800 in the amount paid box? Then would any of that be an exclusion under "amount of premium paid that was used to claim a federal health coverage tax credit?"
Thanks!!