Question

Does TurboTax account for the month I got married so that my spouse and I don't have to pay back our premium tax credits for the months when we weren't married?

Forum|Forum|5 years ago
January 31, 2021
1 reply
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Due to our combined income being above the threshold for a family of two to qualify for health marketplace premium tax credits, I believe we will have to pay back our PTC when we file jointly. Does TurboTax use the Alternative Calculation for Year of Marriage that could reduce the amount we will need to repay?

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WendyN2

No, given that marriage, for tax purposes, is based off of what you were at Dec 31st of that year, it will still treat these types of situations as being married during that time because the issues are so completely separate, I would run the numbers on the potential benefit for MFS vs MFJ and see what works out best.

K

krdarlingtonAuthor

Wendy, thanks for weighing in on this. I read that the IRS has a special rule for this situation called the Alternative Calculation for Year of Marriage (form 8962). Have you heard of this and do you know if TurboTax have a way to file in this way?