Randall Posted April 12, 2015 Report Share Posted April 12, 2015 Am I reading this correctly? Client has Sch C income of $31k. K-1 partnership loss of $44k (he is general partner, has basis). K-1 shows loss in SE earnings box. With investment income, AGI showing positive $3k Client got health ins thru exchange and received advance premium credit. With low AGI, income drops to 19%, less than 100% of poverty level. I'm showing on Form 8962 that he not only doesn't have to pay any back (max would have been $600) because his estimated income when applying thru the exchange was at least 100% of poverty level but he is also eligible to get the reimbursed credit for the additional amount above the advanced credit. I wasn't expecting this and just wanted some confirmation. I was expecting the payback for those whose income exceeded the 400% of poverty level. Quote Link to comment Share on other sites More sharing options...
jklcpa Posted April 12, 2015 Report Share Posted April 12, 2015 Yes, that all sounds correct. I'll be moving this topic to the ACA forum in a little while, after I know that you've been back on to see the answer. Quote Link to comment Share on other sites More sharing options...
Randall Posted April 12, 2015 Author Report Share Posted April 12, 2015 Ok, I've seen it. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.