Premium Tax Credit

[LB56]

client is a graduate student with only income being $2287 (and a $64K tuition bill!). She had a 1095-A with one month paid for by this so-called credit for $220 paid under column F Monthly Adv Pmt PTC. Now they want it all back? This doesn't seem correct.

[TaxGuyBill]

Does this client qualify as a dependent?

Line 3 of the 8962 shows $2287?

Have you gone through the error check/review?

What is the client's filing status?

[LB56]

Not a dependent, yes line 3 shows 2287

Filing status is single

Did error check; no errors

[TaxGuyBill]

Line 29 is showing the repayment of the Advance credit?

You have a number entered for the SLCSP, right?

What software are you using?  ProSeries does it automatically, but maybe you need to indicate that the Marketplace approved Advance credit so they still qualify even when their income is below 100% of the Federal Poverty Level?

[LB56]

Thank you for  your help. So the problem appears to be that the column for SLCSP is blank.

[TaxGuyBill]

The 1095-A shows Advance credit in column C but nothing in column B?  That is really bizarre.

Did the person actually qualify for the credit, or was there some circumstance that he didn't really qualify (such as being eligible for affordable employer insurance, such as through a parent)?

If they qualify, you'll need to look up the SLCSP at the Marketplace.

[LB56]

It is bizarre -- on the other hand it's MA! She called them and they told her that she didn't have it, yet on the 1095-A it says it was good for the month of January and there is only that single amount in Column C. Go figure. She had MassHealth after that one month.