Health Ins Credit Payback?

[Randall]

Am I reading this correctly?

Client has Sch C income of $31k.  K-1 partnership loss of $44k (he is general partner, has basis).  K-1 shows loss in SE earnings box.  With investment income, AGI showing positive $3k

Client got health ins thru exchange and received advance premium credit.  With low AGI, income drops to 19%, less than 100% of poverty level.

 

I'm showing on Form 8962 that he not only doesn't have to pay any back (max would have been $600) because his estimated income when applying thru the exchange was at least 100% of poverty level but he is also eligible to get the reimbursed credit for the additional amount above the advanced credit.

 

I wasn't expecting this and just wanted some confirmation.  I was expecting the payback for those whose income exceeded the 400% of poverty level.

 

 

[jklcpa]

Yes, that all sounds correct.

 

I'll be moving this topic to the ACA forum in a little while, after I know that you've been back on to see the answer.

[Randall]

Ok, I've seen it.