taxpayer rec'd 1095-A with part III column a b & c filled in as follows:
Jan column a b& c completely filled in with amounts
Feb column A 0.00 column B 0.00 and column C with an amount for PTC
no other amts on 1095-A for rest of year
taxpayer rec'd medicare effective 02/01/2021.
Coverage is effective on 1095-A 01/01/21 thru 02/28/21. Believe taxpayer canceled late.
if information off 1095-A is filled in exactly as shown, taxpayer would owe the PTC for February. Doesn't seem right. Any solutions?
If your client received the PTC when he was not eligible, why do you think that is not right that he must give it back
"Feb column A 0.00 column B 0.00 and column C with an amount for PTC"
The Recipient instructions tell you:
Column C. This column is the monthly amount of advance credit payments that were made to your insurance company on your behalf to pay for all or part of the premiums for your coverage. If this is the only column in Part III that is filled in with an amount other than zero for a month, it means your policy was terminated by your insurance company due to nonpayment of premiums, and you aren’t entitled to take the premium tax credit for that month when you file your tax return. You must still reconcile the entire advance payment that was paid on your behalf for that month using Form 8962. No information will be entered in this column if no advance credit payments were made.
Did you client get a refund from the insurer, when canceling?
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