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excess advance premium tax credit repayment

claverty
Level 2

Form 1095-A and line 29 of form 8962 correctly report excess advance premium tax credit repayment due of $4,488, but that amount is not transferred to Schedule 2, line 2, which shows nothing. 

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4 Replies 4
sjrcpa
Level 15

Recent Legislation.


ex-AllStar
qbteachmt
Level 15

"which shows nothing."

Good; that means the program is working. 6 weeks ago a new law got passed and Signed by the President of the US. You should read about all the things that impact taxes, such as Unemployment exemption from taxes, and waiver of the APTC overage:

https://www.investopedia.com/relief-law-opens-up-new-savings-for-millions-who-buy-their-own-healthca...

https://www.investopedia.com/american-rescue-plan-definition-5095694

 

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claverty
Level 2

thanks you

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Just-Lisa-Now-
Level 15
Level 15

Back at the beginning of March new legislation was passed removing that payback...you may want to sign up for IRS news and alerts so youre not in the dark when things change, been LOTS of changes these past few years!


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪