If the California form 3849 being populated correctly?

Forum|Forum|5 years ago
May 11, 2021
3 replies
10 views

I have a client that would have owed $11,000 worth of PTC, but now it has been suspended. My concern now is the California return shows a large refund from form 3849 of $8000. This does not seem correct because client has not paid anything into the health insurance. Has anyone else come across this problem?

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Best answer by abctax55

It's likely correct assuming you've entered everything correctly. My largest one so far is $ 25,000 +/-.

Check out Spidell's message board for many conversations on the subject.

https://www.caltax.com/forums/forum/message-board/

qbteachmt

Level 15

Since you stated they didn't pay anything, are you asking about APAS? Is Form 3895 box “Repayment cap may not apply” checked?

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PaperworksAuthor

Level 2

No, not the APAS. I'm saying they didn't not pay premiums at all and because they made too much income, they would of had to pay the entire amount back to IRS except IRS did the suspension. I just don't understand why California is giving them the credit, except for the maybe the form 3895 is using the numbers on the 8962 and assuming the taxpayer is paying back all the premium?