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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- American Rescue Plan eliminated Premium Tax Credit Repayment deducted as SE Health and on Schedule A
American Rescue Plan eliminated Premium Tax Credit Repayment deducted as SE Health and on Schedule A
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djb
Level 2
04-07-2021
11:45 AM
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Version 41.0406 eliminated the Premium Tax Credit Repayment as expected per the American Rescue Plan.
However, I believe it is incorrectly deducting the waived repayment as either SE Health Insurance premiums and on Schedule A Line 1.
I certainly didn't read the ARP Bill, however, these were not premiums that were paid by the taxpayer.
I tried contacting support and after an hour gave up when they erroneously cited the Schedule A instructions.
Does anybody have any insight if this is correct?
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pamdory
Level 8
04-07-2021
06:53 PM
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I'm following this too. Just doesn't feel right, but nobody's found the actual guidance from IRS.
There's another thread that is discussing you may want to follow.
