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February 27, 2025
Question

Retirement Savers Credit and ACA premiums

  • February 27, 2025
  • 1 reply
  • 0 views

I have $2000 in Retirement savers credit - non refundable.  I received an ACA subsidy as my wife is on it.

I underestimated my AGI and therefore own tax to make up the shortfall.  My savers credit  wipes out the additional amount. I still have $550 left of the savers credit. Can i use it to get refunded on the ACA premiums I did make?  Can't seem to find a way on turbo tax.

    1 reply

    February 28, 2025

    No. Excess advance premium tax credit repayment is reported on schedule 2 as addition to tax . 

    Per IRS:

     Non-refundable credits do not reduce taxes from Form 1040, Schedule 2, Additional Taxes.

    irs.gov

     

     

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