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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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- Market Place Premium Credit - Married Filing Separate
Market Place Premium Credit - Married Filing Separate
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tscott
Level 3
03-17-2023
04:13 PM
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Taxpayer received $6,000 in Advanced Premium Tax Credits, now he wants to file married filing separate. The program allows him to file married filing separate and it gives him to smaller pay back of the advanced premium credits. Is this correct?
Please help
Thank you
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1 Comment 1
TaxGuyBill
Level 15
03-17-2023
05:41 PM
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Probably.
Filing a MFS usually disqualifies the credit, but the MFS return often has a lower income/poverty percentage which could reduce the repayment.
https://www.irs.gov/instructions/i8962#en_US_2022_publink100010959
