Affordable Health Care Act
Learn how Minimum Essential Coverage, exemptions, and the Individual Shared Responsibility Payment impact tax preparation. [CC]
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Advance CTC payments must be reconciled on the 2021 tax return. Excess advance payment amounts received will be required to be repaid in certain circumstances. To reconcile amounts received for the advance child tax credit, entries must be made on the 8812 screen in Drake Tax 2021.
Use the PMT screen to set up automatic fund withdrawal by the IRS, state, and some city departments of revenue.
Track excess Charitable Contributions to carry forward. [CC]