I didn't pay to much attention to this topic (ACA) since all my clients received a 1095-C (employer provided) but then this new client comes with 2 - 1095-A's. The TP's 1095-A's stated the TP received $1673 in "Monthly Advance payment of the premium tax credit". When I entered all of this on the 1095-A forms, it generated a $1482 of Net Premium Tax Credit(Ln 69) form 1040. TP's AGI little over $28K. Not sure I completed the 1095-A's correctly but if so, the TP had a good chuck of their health ins premium paid by way of tax credits. So did I complete the forms 1095-A correctly?
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Not unless you completed Form 8962, which is the form to use to calculate the proper credit. The 1095-A just has the information that goes on 8962. -
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Not enough information to answer.Originally posted by AZ-Tax"You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe HowardComment
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MAGI, Household Size, SLCSP, if there were any changes in Household Size throughout the year (and therefore the SLCSP), and how many months there were insurance.Originally posted by AZ-Tax View PostComment
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At $28K for a single person, he is at 238% of the Federal Poverty Level ($11,770)
The maximum pay back would be capped at $750 as shown in table 5 of the 8962 instructions.Comment
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