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
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.
