------------- "Data Verification 1 of 1" "You're getting a premium tax credit of $2,880 and are claiming insurance premiums. To avoid a double benefit, reduce the insurance premiums you are claiming by the amount of your premium tax credit. Once you've done that you can disregard this message even if it continues to display in Accuracy Review."
"Location: Schedule A - Itemized Deductions"
"Make any changes in the form below."
"Note: Data Verifications are items that may or may not need fixing. You should review these items before filing. If no action is needed, you don't need to clear the Data Verification." --------------
I don't see that I am claiming a double benefit, since all insurance premiums claimed on Schedule A have been paid by us either by credit card or checking account, all for which I have records.
Here's the basics.
California (but this is about the Federal portion, can't do state yet) married filing jointly both retired all of 2017 no dependents
husband was 65 all of 2017 wife was 64 Jan-Apr 2017, 65 May-Dec 2017 neither collecting Social Security in 2017
husband began Medicare in Jan 2017 husband pays Medicare (CMS) $134/mo, originally via credit card, then auto-pay via checking account; 2017 amount paid is $1,608 husband also has Kaiser Sr. Advantage (Medicare) and pays $126/mo. via credit card; 2017 amount paid is $1,512 * husband's total 2017 paid for health insurance is $3,120 *
wife began Marketplace insurance in Jan 2017 (not yet 65, and Medicare ineligible) wife gets insurance premium tax credit and pays Marketplace, via credit card $109/mo. for Jan-April; 2017 total paid is $437 wife turns 65 in May 2017 and begins Medicare (CMS), and pays $134/mo. via checking account; 2017 total paid for May-Dec 2017 is $1,072 wife also begins Kaiser Sr. Advantage Medicare (CMS) in May, and pays $126/mo. via credit card for May-Dec 2017; 2017 total paid for May-Dec is $1,008 * wife's total 2017 paid for health insurance is $2,517 *
** combined 2017 total paid for health insurance is $5,637 **
wife received 1095-B for Kaiser Sr. Advantage Medicare insurance; months May through Dec. checked, indicating coverage for those months
wife also received 1095-A for Marketplace insurance;
Part I, Recipient Information, box 4, Recipient's name, shows husband's name (not sure why); box 7, Recipient's spouse's name shows wife's name
Part II, Covered Individuals, col. A., Covered individual name shows wife's name
Part III, Coverage Information is as follows: Col. A, Monthly enrollment premiums, Jan through Apr all show $1,041.96 Col. B, Monthly second lowest cost silver plan (SLCSP) premium, Jan through Apr all show $1,205.91 Col. C, Monthly advance payment of premium tax credit, Jan through Apr all show $932.61
By the way, Col. A minus col. C = $109.35, the premium paid by us to the Marketplace for Jan-Apr 2017.
One more thing that may be relevant:
When I finished the Health Care Coverage section, the Premium Tax Credit Summary showed this:
------------------- "Your Premium Tax Credit" "We've done the math, and you'll need to pay some money back because you got too much of an advance premium tax credit when you signed up for marketplace insurance." "Here's how we figured your premium tax credit:"
Number of people in household, 2 Your total household income, $xx,xxx Amount of advance premium tax credit you should have received, $2,880 Actual advance premium tax credit you received, $3,732 Amount you need to pay back*, $852 *This might have been reduced, depending on your income level. To make sure you receive the correct advance premium credit in the future, update your information with the marketplace throughout the year--whenever you have a change in income or family situation. -------------------
In fact, we did receive about $11K more in income (Schedule K1, Form 1041) than we had planned when my wife signed up in the marketplace, so returning $852 is probably correct. But, I don't understand why I would also have to reduce my actually paid, out of pocket, insurance premiums by $2,880, as indicated in the Accuracy Review/Data Verification.
I wonder if I should go back to TurboTax. I used it about 10 years ago, but liked H&R better.
If you've read this far, thank you very much.
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