Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Lacerte Tax
- :
- Lacerte Tax Discussions
- :
- Re: Premium Tax Credit Allocation Diagnostic
Premium Tax Credit Allocation Diagnostic
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Charper1841
Level 2
03-21-2023
05:43 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I have a client who has her 3 non-dependent kids on a 1095-A. They are allocating 100% of the premium to her and 0% to her kids. I was able to get hers taken care of, however, when I tell Lacerte that each of her kids are allocated 0%, I get a diagnostic that enrollment premiums or advance payment of PTC must be entered on Form 8962, Part II, line 11. It's telling me the return must be filed as a paper return. Is that correct or am I entering this incorrectly? I entered all of the monthly premiums but the allocation of 0% generates that diagnostic. Is there a way to still get this to efile?
Labels
5 Comments 5
TaxGuyBill
Level 15
03-21-2023
06:13 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Just to double check - was there Advance credit paid (column C of the 1095-A)?
And you've filled out all three columns for the 1095-A?
As a side note, does it have the best results to allocate 100% to the parents? In many cases, a kid may have lower poverty percentage and would end up with a better credit.
Charper1841
Level 2
03-21-2023
06:26 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Hi Bill!
Yes, there was advance premium credit paid.
I also believe that they would get a better credit with the percentage but she is insisting on putting all of it on hers.
Thanks for your help!
TaxGuyBill
Level 15
03-21-2023
06:35 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Intuit has never been good with the 0% allocation.
I would ignore the diagnostic and e-file it.
If the e-file is rejected, the print the 8962 to a PDF, and attach that PDF and label it as "ACA Explanation".
Charper1841
Level 2
03-21-2023
06:45 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Unfortunately, it's a critical diagnostic. I just tried validating it and it was a no go. I like your solution though! It just seems unnecessary to have to paper file the return based on the 0% allocation.
TaxGuyBill
Level 15
03-21-2023
07:25 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
This is the first I've seen anybody post here saying they can't e-file with the 0% allocation, and it is somewhat common to e-file with a 0% allocation (but as I said before, Intuit doesn't handle it very well). So I'm wondering if maybe you are entering something incorrectly? Or possibly a new 'bug' from Lacerte?
I'm a ProSeries user, so I can't specifically test out how to enter it in Lacerte.
