Question

Married this year in Sept. Wife had Obamacare prior to that and estimated wages correctly. Filing jointly, how can we reflect this situation in TurboTax to avoid penalty?

Forum|Forum|7 years ago
June 5, 2019
1 reply
0 views

No text available

Employee

In this situation, for the purposes of calculating any payback of advance premium tax credits (this is not a penalty, just a squaring up of how much she received in APTC compared to how much she should have received), you can treat your annual household income for the months she was single as half of what it actually was.

TurboTax should give you the option of this alternative calculation.

B

brettwallsAuthor

This is very helpful, thanks. I will dig deeper l, as I don’t immediately see this as an option in TurboTax. For clarity, even though the marriage occurred in September, the calculation is half of total household annual income (her’s and mine together)?