Payback of 1095-A premium tax credit tax year 2024.

Forum|Forum|1 year ago
April 11, 2025
2 replies
0 views

I have a gross (not AGI) of $59921 and the 4x poverty level for family of 1 is $60240. TT Premium says I need to pay back all $4420. Is this correct?

MAK70

Are you filing Married separate? If so, you do have to repay the advanced premium tax credit.

newcomtAuthor

I am filing Single and I actually mis-spoke. TT said I made too much and would have to pay back the premium but the payback amount was capped at $1575.

DaveF1006

If you underestimated your income to the marketplace at the beginning of the year, you will need to repay back the premium tax subsidy that you were awarded. It is capped at $1575 because your income estimate was less than you made during the year. If your income exceeded $60,240, you would have paid the full amount of the premium, which was $4420.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"