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Getting Tax Planner Adj.s to Income - Allowable SE Health Ins Deduc to Include Prem Tax Credit Repayments

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Getting Tax Planner Adj.s to Income - Allowable SE Health Ins Deduc to Include Prem Tax Credit Repayments

Getting Tax Planner Adj.s to Income - Allowable SE Health Ins Deduc to Include Prem Tax Credit Repayments

 

RE: Case:550763585 1095-a [ ref:_00Di0Xs0j._5003j1k8v4l:ref ]

The Tax Planner Summary (2020) -- Adjustments to Income

Self-employed Health Ins.

Allowable SE Hlth Ins Dedn ----- needs to include the amount of  Premium Tax Credit Repayment

(calculated and shown in

Tax Planner Summary (2020) -- Taxes and Credits

Other Taxes

Premium Tax Credit Repayment) in the total for Allowable SE Hlth Ins Dedn.

The source of the Premium Tax Credit or Repayment are the inputs into:

Tax Planner Summary (2020) – Taxes and Credits

Premium Tax Credit or Repayment Smart Worksheet of which Line C Household income for premium tax credit is automatically calculated by the Tax Planner.

 

When the line Allowable SE Hlth Ins Dedn fails to include the premium tax repayment (as it should), then SSA taxable is overstated, adjustments for SE health ins in AGI is understated, and taxes owed are significantly overstated.

For me to overcome this error (because Taxpayer:  Health ins prem paid (an input) should be for premiums actually paid and the Premium Tax Credit Repayment is not paid until the tax return is actually filed), I had to manually include both premiums paid and the Premium Tax Credit Repayment (calculated in the Tax Planner software) in Health ins prem paid to get Allowable SE Hlth Ins Dedn to be the correct amount (it is just adding down the actual premiums paid).

Therefore, please fix this error in the software.