Excess Advance Premium Repayment

[MarianneMicco]

Client was unemployed for 3 months and received marketplace insurance.  In those 3 months she was qualified to get it and not owe anything back.  When employment started, she dropped marketplace and went onto employer plan and made good money.  Shouldn't there be an adjustment allowed to show the real AGI for those 3 months?  And not have the AGI that includes the 9 months wages?  I can't get to a place where the AGI can be modified to show the actual AGI per month.

[Dusty2]

"Shouldn't there be an adjustment allowed to show the real AGI for those 3 months?"

Seems like there should be but things that make sense to you and me are not always part of the tax code.

" I can't get to a place where the AGI can be modified to show the actual AGI per month."

That is because there isn't one.

Dusty

[Just-Lisa-Now-]

It doesn't matter about AGI per month, it uses annual income.   This happens to so many people when they go back to work, and it sucks.

If they're eligible, could making an IRA contribution lower the income enough to avoid payback?