TaxGuyBill
Level 15
02-08-2021
07:13 PM
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@Rogelio7_1951 wrote:because his total modified AGI is $52,592.00 including what he received from EDD, his Household income as a percentage of federal poverty line is 401%.,
[EDITED for my error, see additional comments later.]
In direct answer to your question, the program already does the monthly calculations (Lines 12-23 of the 8962), but it is still based on the annual income, not just the income from the months that taxpayer had Marketplace insurance.
But as Lisa mentioned, contributing to a Traditional IRA might fix things.