REFUND OF ACA

[TAXMAN]

Can someone check me on this? TP did get a 1095-A with following info: lines 21-25 col a 265.00 lines 21-25 col b 265.00 lines 21-25 159.00.

TP total income $4030 (4 thousand & thirty dollars) single and not claimed on any other return age 33.

8962 form is giving me a $495.00 refund.

Can you check me on this? or do you need to know more?

Many thanks as I have not hit one like this.

 

 

 

[Pacun]

Lines 24 and 24 don't columns.

 

I have calculated using August 265 265 159

and I have entered it for 5 months August trough December and he needs to "pay back to the IRS" $300.

[jklcpa]

14 hours ago, TAXMAN said:

Can someone check me on this? TP did get a 1095-A with following info: lines 21-25 col a 265.00 lines 21-25 col b 265.00 lines 21-25 159.00.

TP total income $4030 (4 thousand & thirty dollars) single and not claimed on any other return age 33.

8962 form is giving me a $495.00 refund.

Can you check me on this? or do you need to know more?

Many thanks as I have not hit one like this.

 

 

 

 

My program calculated the same $495 refund on the 8962 and automatically generated a 8965 with exemption A because of the low income so he doesn't pay the penalty either. 

However, with income that low, I'd ask if this person eligible for any other MEC during those months he received the credit. If so, he might not have been eligible for that APTC and wouldn't have the refund your program is calculating. 

[TAXMAN]

Thank you,

I am looking further into this issue. I really don't need this stuff now.