This is a follow up question related to this specific shared policy allocation. My client is single and not a dependent of someone else with adjusted gross income of $7,159 resulting in taxable income of $0. She did have self-employment tax of $101 but had withholding of $35 so she was due to pay $66.
After I found out about the father having a 1095-A with my client as a covered individual, then I added the 1095-A to her return. His form has total monthly enrollment premiums of $13,923, SLCSP of $15,586, and advance payment of PTC of $10,812. There were four covered individuals on the form. The CPA that prepared his return entered the allocation percentage on form 8962 as premium 0.00%, SLCSP 0.0%, and advance payment of the PTC 0.75%.
Now I'm using Proseries Basic to prepare my client's return and I entered all of the 1095-A from the father's form into Proseries for her. In the shared policy allocation section, I entered 25% as the advance payment of the PTC and that's all. It has calculated the net premium tax credit as $11,220 which now results in $11,154 as her overall tax refund. This just doesn't seem right to me. Can you help me understand if this is correct or not?
Thanks for any help given.