ACA Question

[Bob McCoy]

Hi all, as you can see I am new to the forum. I am not a tax professional just a volunteer, or as they say in the land of OZ “a good dead doer.” We assist those in lower income brackets. So far there is not much information on the shared policy for the ACA. Haven’t had one come up yet, but trying to be ready if it does.

Entering it in TaxWise I am good up to line nine in form 8962, where it instructs you to check yes if it is a shared policy. It then says to skip to part four. I fill in the months and the allocation percentage but nothing much happens. I also notice that the lines for the months in part two turn red, so I tried entering figures there as well but still nothing changes.

Nobody in my volunteer office understands it, the IRS webinar admitted they were not up to speed at this point, and I even talked to a CPA, and he said he was not sure. I figured there would be some here who had experience with TaxWise as well as the ACA and could offer some useful advice.

Thanks in advance.

[TaxGuyBill]

I don't use TaxWise, so I don't know if this will be any help, but I'll give it a shot anyways.


Usually Lines 11-23 show the amounts from the 1095-A. When you are using the "allocation", Lines 11-23 will show the amount from the 1095-A multiplied by the allocation percentage. So if the 1095-A shows $1000 and the allocation percentage is 50%, then $500 is shown on Form 8962, Part 2.

You need to make sure that Lines 12-23 (or only Line 11) are filled out, using the numbers from the 1095-A multiplied by the allocation percentage.

I don't know how things are entered into TaxWise. If you enter the 1095-A, it SHOULD multiply it by the allocation percentage automatically and the numbers should flow to the 8962 Lines 12-23 (or just Line 11). If not, you need to override it.

If you aren't entering the 1095-A, but are entering the 1095-A numbers directly on Lines 12-23 (or just Line 11) of 8962, you need to manually multiply the numbers on the 1095-A by the allocation percentage.


Does that help at all? If not, you may need to contact support at TaxWise.

[Bob McCoy]

Thanks Bill, just got in from a long day, so I will plug all of that in tomorrow and see where it lands me.