Entering Excess Advance Premium Tax Credit Calculations

[troy]

I am entering information in ProSeries related to Form 1095-A that the client provided. 

However, it appears other factors can impact this calculation.

For instance, on the HSA worksheet, clicking "Family" on this worksheet adjusts the calculation for this credit.

Other than directly entering items from the 1095-A, what other considerations are there for this calculation / form?

[Terry53029]

Just enter the 1095A as shown. See this link for information on items that may effect the credit.

https://www.irs.gov/affordable-care-act/individuals-and-families/questions-and-answers-on-the-premiu....

[TaxGuyBill]

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@troy wrote:

on the HSA worksheet, clicking "Family" on this worksheet adjusts the calculation for this credit.

Other than directly entering items from the 1095-A, what other considerations are there for this calculation / form?

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Anything that changes AGI can change the Premium Tax Credit.

I suspect that you had entered a HSA contribution (perhaps code W from Box 12 of a W-2).  Until you tell ProSeries that you qualify for the contribution, it assumes you DON'T qualify for it and it adds it to income/AGI.  But when you checked the "Family" button, you told ProSeries the client qualifies, so it no longer included that in their income/AGI.  So removing that HSA amount from AGI is what caused the Premium Tax Credit to change.

[troy]

I notice that after entering the 1095-A, an error is generated for the question "Can you be claimed as a dependent on someone else's return."

Why is that?

[qbteachmt]

"Why is that?"

Q5, here: https://www.irs.gov/affordable-care-act/individuals-and-families/questions-and-answers-on-the-premiu...

The taxpayer and not the dependent, would claim the credit.

Also, if a W2 employee contributes to an HSA through work, it isn't also entered separately. The W2 shows it already is a pre-tax contribution.