ptrost
Level 2

Am I understanding this correctly, with the passing of the American Rescue Act, for 2020 only, repayment of any excess PTC does not increase the taxpayer's tax liability, the repayment has been suspended. Is this correct and am I just waiting for Pro Series Professional to update Form 8962 to reflect the new tax law. According to the IRS website, any returns filed need to be amended. Any input would be greatly appreciated. tks