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November 21, 2021
Question

APTC repayment when income is below poverty level?

  • November 21, 2021
  • 1 reply
  • 0 views

I estimate that my 2022 income will allow me to claim Federal Premium Tax Credit. However, if I use APTC (Advanced Premium Tax Credit) and at the end of 2022 my income ends up being below federal poverty level, how much APTC will I need to repay (Form 8962)? Is there a repayment limitation?

1 reply

Critter-3
November 21, 2021

None.  Repayment happens when you go OVER 400%  however you may not be able to get any of the advance credit in 2023 because if your income is that low you would not qualify.