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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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skori
Level 2
04-09-2022
04:39 PM
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How do you change the family tax size when calculating the premium tax Credit. The children are listed on the 1095-A, but are not dependents anymore. The taxpayer is getting a big credit due to the program not calculating the family size correct.
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TaxGuyBill
Level 15
04-09-2022
04:48 PM
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The "tax family" size (line 1 of the 8962) is the number of people on the tax return. So there is no need to change it.
However, I suspect you are misunderstanding somethings. A smaller family size would DECREASE the credit, so they are getting a smaller credit than if they were claiming the children as dependents.
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TaxGuyBill
Level 15
04-09-2022
04:48 PM
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The "tax family" size (line 1 of the 8962) is the number of people on the tax return. So there is no need to change it.
However, I suspect you are misunderstanding somethings. A smaller family size would DECREASE the credit, so they are getting a smaller credit than if they were claiming the children as dependents.
