SEHI and Marketplace?

[Super Mom]

I know the IRS has now clarified that Medicare counts as SEHI, what do you all say about marketplace coverage as SEHI?

Also, it appears that this taxpayer based his marketplace credit on HIS only self employment income, NOT total household income, meaning he will have to pay some credit back, is this right?

[TaxGuyBill]

Yes, and yes.

SEHI with Marketplace insurance involves a circular calculation (see Revenue Procedure 2014-41 and/or Publication 974), but your software should do the hard stuff. Just be sure to 'link' the 1095-A/8962 to SEHI (however your software does it). Don't manually enter it elsewhere.

[Super Mom]

I'm researching now, anyone with ATX happen to know right off how to link the 8962 to SEHI?

[Super Mom]

Ok, from just a quick read of that revenue procedure, it looks like his monthly premiums less any net premium tax credit and monthly advances, would be the SEHI.

[Super Mom]

Ok, from just a quick read of that revenue procedure, it looks like his monthly premiums less any net premium tax credit and monthly advances, would be the SEHI.

Oh, I see from pub 974 that it is much more complicated than that!!

[Super Mom]

I have placed a call to ATX support to see how to link the form, hopefully they can help or I will have to figure this manually! Yuck! I figured following rules and worksheets would be easy enough, NOT, this health care stuff is such a mess!!!!!!

[Super Mom]

update: I called ATX and they were stumped on this too. They said a service tech will email me within 24 hours! I will share this on here if I get a resolution!!

[Super Mom]

ok, so tech support was NO help! They directed me to those stupid worksheets in Pub 974!!

[Lion]

Don't use ATX, but they have an active board (official) plus an unofficial board with helpful people:

http://www.atxcommunity.com/index.php?

[Lion]

SEHI plus Obamacare means an iterative calculation. IRS gives you a couple of accepted ways. I think with one way you go around in circles until you're within $1 and the other way maybe allows you to stop after a set number of iterations. Do the worksheets, or visit the ATX boards.

[TaxGuyBill]

ok, so tech support was NO help! They directed me to those stupid worksheets in Pub 974!!

I REALLY hope ATX does that. I'm considering changing software next year (ATX is one of the options), but if they haven't added this in TWO YEARS, there is NO WAY I would change to ATX.

If ATX is not capable of doing this, and you need to do things manually, we can help you if you have any problems.

[Super Mom]

I REALLY hope ATX does that. I'm considering changing software next year (ATX is one of the options), but if they haven't added this in TWO YEARS, there is NO WAY I would change to ATX.

If ATX is not capable of doing this, and you need to do things manually, we can help you if you have any problems.

Thanks, I have been really happy with ATX and have been using it for many years, this is the first really bad problem I have had, and it's a REAL problem!!