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You are not the only victim of unintended consequences, and I have read that congress is looking into the problem. Maybe they will come up with solution, and we can amend to solve problem. The program is correct for now, and is not an error on ProSeries part.
Want to add, for next year if not too late, have your client receive the PTC in advance by lowering his monthly payment
Hello Lisa
Per health premium 2020
Form 8962 line 12-23
Column A taxpayer paid out health premium after subsidy $829 Column B Silver lowest cost Premium $1366 and column C and D will calculate if tp has modified AGI above threshold. And not calculate if below threshold . Then when they report income 2020 (Covid 2020 happened and business loss)
Before adjust UI exclusion, Modified AGI is above threshold , tp received $9119 (the whole thing of health premium pay out)
After adjust UI exclusion , modified AGi is below threshold , per proseries, refund is $0. That would hurt case
IRS automatically adjust for the UI and send additional refund $469 for UI exclusion?
Hello Terry
When I filed return and realized that issue , but it was on tax seasoning, then I did not call support team to look at calculation .
Thanks
Hello Terry
Because tp normally have income high in prior years and must report income (based on prior year return with Covered CA health ) tp must pay high premium cost .
Thank for support and advise
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