TP had PTC for 3 months. Why is it calculating total payback when he qualified for PTC due to annual income between 100%-400% of Fed Poverty Line? Had employer-provided health insurance after that date.
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Well, never mind. I think it is calculating correctly as TP's required minimum payment on Line 8b exceeds amounts both on Line 12a and 12b. Duh! -
Burke, just trying to HELP here on something (insurance)
that should not be part of a tax return OR OUR new Burden
You say Income was 310% of poverty level
IF the taxpayer received and REDUCED premium amount
then that taxpayer provided (honestly) that he/she had
less "Income" at that time, otherwise there would have been
no reduced premium IF he/she was at ["310%]
I had one, the provided W-2 income when getting Ins
did not know that SSA benefits COUNTED in what do you GET
I HAVE all OF my returns ON HOLD that are effected by ACA this year
UNTIL "ALL" is clarified!
Reason for IRS announcement IS that (leaving ALL politics OUT of THIS}
At least THIS Penalty part my be repealed, thus ALL 2016 taxpayers
would NOT owe it. Those that filed and paid (even with extension)
would have to file amended return.
THESE are the people who MOST need to NOT pay IF this happens
NOW TO THE SECOND "UNANSWERED" question.
You will notice Lacerte states , don't answer, line 61 will be ZERO!
HOWEVER (huh?????) Lacerte will continue to calculate PTC for line 46!
QUESTION, I ask?
IF taxpayer do NOT answer did they have ACA Ins
WHY would I enter the 1095's (they are NOT tax forms, they are Insurance Forms)
AND they DO answer the QUESTION that the taxpayer said the did NOT answer
SO IF (when resolved) the taxpayer does NOT answer Ins STATUS
THEN, DO NOT ENTER 1095's
I didn't say to not enter them, I said I am waiting for that to be answered
ClaudComment
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Some preparers are recommending to TP's to file extensions due to all the pending issues. However, in my TP's case, he owes whether or not these penalties are going to be in effect for 2016.Comment
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Yes for the PTC repayment. That will NOT change
I merely have the question, if I don't answer as to did I have coverage
THEN I input 1095's I AM stating Coverage Status
Would that be an oxymoron?
MY belief IS that I WILL be entering the 1095's
ESPECIALLY if taxpayer is GETTING MONEY on Line 69
I'm just holding those with Line 46
IN the UNLIKELY event that this mess says
No reported status means NO 1095 input, NOT Likely
JUST as Lacerte has conformed to NO answer, but still calculate PTC
OH the fun of my 38th tax SEASONComment
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