PTC Repayment

Technical topics regarding tax preparation.
#1
MTS  
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6-Dec-2017 12:49pm
Location:
Kansas
I have a tax client who is a farmer reporting a loss due in large part to depreciation of farm assets. With this being his only income source, he is showing negative AGI in 2018. He had applied for health insurance through the marketplace and received PTCs of over $10K in 2018. With the household income below 100%, he is supposed to pay back the full amount of the PTC. Is there anyway to avoid that in this situation?
 

#2
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2318
Joined:
21-Apr-2014 10:39am
Location:
Los Angeles, California
He would not be required to repay any aPTC that he received due to his mAGI being below the threshold. There is a specific exception to that found in 1.36B-2(b)(6).
 


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