I am puzzled. Trying to do a little planning. My understanding is that HSA and IRA Contributions are deducted to come up with MAGI for purposes of the PTC. However, I am having trouble envisioning this when looking at IRS Form 8962.
My APTC is based on estimated earning only, with no consideration for IRA or HSA contribution deductions.
Looking at IRS Form 8962, there are five parts (I think only the 1st 2 parts are pertinent). The first part would appear to be the one that allows reconcilliation on the APTC; however, based on Part II, the only consideration appears to be columns (e) and (f) (I need to do the monthly calculations). Part II appears to tell one what amount was overpaid but does not appear to take into consideration MAGI. The state health isurance exchange that prepares form 1095-A will have no idea what my actual MAGI may be.
What am I missing here? Anyone know how this works? I am confused and having a heck of a time figuring it out.