...2nwhat replaces FTB form 3849? ...

...Had a client referred to me.  He filed his CA return and showed no federal PTC amount.  The repayment was forgiven on federal.  So the form shows that he was due a huge $13K refund.  He did get the check.  Based on earlier posts, it seems that this was correct.  Since he filed and got the check, does he get to keep it?  Or does he need to amend and repay the calculated amount?  In other words, did the FTB retroactivly change the rules and now want repaymen...

...owever, California (Form 3849) has calculated the taxpayer is eligible for PTC and needs to pay back the PAS received on Form 3895.  Is this correct? ...

...client who had a CA Form 3849 to reconcile their Advance Payment Subsidy from the state.  As a result of the federal adjustments because of the UI exclusion, the federal PTC reconciliation changed substantially.  Not being familiar with the exact method of calculation on the new CA Form 3849, I did not initially see a need to amend the CA return.  After the client finally received her due refund from the IRS, I went to check if I needed to amend for CalEITC.  To my surprise (...

...Is it correct for Form 3849 to include an amount on line 11d, Annual federal PTC amount, if there was NOT a federal PTC or advanced PTC amounts? There is not a Form 8962 generating in the return because income is below 100% of federal poverty amount, so they are not entitled to a credit.  The California Form 3849 is including the amount calculated on Worksheet 4 and 5 in the instructions. By including the amount of federal PTC, which was not received, is requiring a repayment of the entir...

...put those numbers on the 3849 it comes out that they get a REFUND of $10,000. I understand that if they had actually paid the IRS the $14,000, the $10,000 refund would makes sense but this does not make sense to me. Basically they paid a small premium and CA is giving them $10,000. Does CA have any guidance on how to handle this situation. ---IRS forgives the overpayment and CA doesn't take that into consideration when calculating the amounts? ...

...ubsidy. California Form 3849 is calculating a $19,008 refund due to the client.  AGI is $88,612 and household size is 2.  So, California is indicating the borrower should have a monthly contribution amount of $1217.  11A shows $24,879, 11b shows $33,612, 11c shows $14,604, 11d shows zero, 11e shows $19,008, 11f shows $19,008. It seems that ordinarily, the IRS would have required repayment in full since the borrower's income exceeded 400% of the federal poverty line.  But, d...

...ce Subsidy (PAS) on Form 3849? If we include the kids' income, the parents get no PAS. If we do NOT include the kids' income, they get a $13,000 PAS. If we include the lower income kid only, their PAS is $10,000. This is without allocating any of the premiums to the kids. We have spent two hours going through the fed and state instructions and pubs and, as you can see, got nowhere. The instructions and pubs are byzantine. PASs are a PIA. ...

...I use Pro Systems.  I input the 1095-a which has Part III  - col a - $15,483, col b - $14,734 and col c - $13,584.  The federal return calculates correctly and shows that they do not owe back the PTC (even though they are over the threshold for the federal poverty line). I then input form 3895 and check the box in the software that this is indeed form 3895.  The 3895 is exactly the same as the 1095-a except there are zero monthly advance payments (col c).  By doing this...

...oes anybody know if Form 3849 will be revised because taxpayers do not have to pay back the advance premium tax credit to Federal? I have a situation where taxpayers are supposed to pay back $15,686 to Federal and receive a refund of $13,333 from California for the premium assistance subsidy. Because of the change in the American Rescue Plan Act, they no longer have to pay back the $15,686. However, CA tax return still shows $13,333 of refund. That does not look right to me because they did not ...

...t calculation on CA Form 3849, line 11, column D? ...

...believe is a big CA Form 3849 error on Lacerte software. My 2 hour telephone call on April 13 was ignored by low level staff and not referred to programing errors. Since the elimination of the Federal repayment of excess advance payment of the premium tax credit, Lacerte enters on CA Form 3849, line 11, col (d) -0- thereby generating an $8k refund when the federal AGI is $110k and the CA AGI is $90k. The federal Form 8962 clearly answers line 6 YES which should have created the repayment of the ...

...d to repay $17o per form 3849.  I get this. After applying the American Rescue Act Provisions, my client has zero repayment per form 8962 and has a CA refund of $16,690 calculated on form 3849. The monthly premium was $2,468 and the federal advance payment of PTC was $1,974 and CA was $30.  They had to pay $464 per month. It doesn't seem correct they would receive more than they paid out of pocket as a refund.  I use Lacerte and I have no diagnostics for this.  Column D on...

...pare the California Form 3849, the taxpayer ends up with a $20,000 refund due to the fact that he did not qualify for the Federal Advance Premium tax credit, because it was considered paid back for California purpose. Is this correct? It seems he would end up with a $45,000 windfall for underestimating his income when he applied for Covered California! ...

...ount was waived? CA Form 3849 shows column D as zero annual Federal PTC amount. ...