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In trying to complete the health coverage portion coverage…

In trying to complete...

In trying to complete the health coverage portion coverage for income tax, would you be able to tell me if line 27 of form 8962 can have a negative amount?

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

My grand daughter in law was responsible for 25% of insurance under Obamacare. if my grandson completed form 8962 correctly, he is getting a negative amount for line 27, excess advance payment of ptc. does a negative amount sound correct.

Accountant's Assistant: Is there anything else important you think the Accountant should know?

Thank you, no. we are trying to determine if we need did it correctly or need to take another shot at it.

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Answered in 3 hours by:
3/10/2018
Dr. Fiona Chen
Dr. Fiona Chen, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,157
Experience: Former IRS Revenue Agent
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I'm Fiona, former IRS revenue agent. I am looking at your question and will get back to you soon. Fiona Chen, MPA, Ph.D., CPA, ABV, CFF, CITP,IMTA

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Dear Customer,

According to the Form, Line 27, "if line 25 is greater than line 24, " therefore, if line 25 is not greater than line 24, we should not do the subtraction.

Regards,

Fiona

Dr. Fiona Chen
Dr. Fiona Chen, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,157
Experience: Former IRS Revenue Agent
Verified
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