Question

I can't figure out why I'm not getting the Premium tax credit? I made less than I told them I would make, which means you think you would get more back.

Forum|Forum|4 years ago
April 8, 2022
1 reply
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TurboTax Deluxe Online

It depends. Did you have other income on your return other than your W-2? The formula used to determine the MAGI for the premium tax credit is

Modified adjusted gross income is the adjusted gross income on your federal income tax return plus any excluded foreign income, nontaxable Social Security benefits (including tier 1 railroad retirement benefits), and tax-exempt interest received or accrued during the taxable year.

If you had any income that was excluded for tax purposes, that is added back in for the calculation of your premium tax credit.