bebop
Level 3
12-07-2019
01:05 AM
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Client had marketplace insurance in 2017. Got a new job and had employer sponsored insurance the entire year of 2018 but forgot to cancel marketplace insurance until March. End result was a $500 Excess advanced premium tax credit repayment. Is there a way to avoid this since she had qualified insurance the entire year?
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TaxGuyBill
Level 15
12-07-2019
01:05 AM
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Nope. She never qualified for the Premium Tax Credit if she was had employer insurance.
You need to enter $0 for each month in column B of the 1095-A, to indicate she did not qualify.
