Alert - Red Alert - E-Filing - PTC Alert Adjustment Should be Negative Number
1

If you are seeing a red alert about your adjustment for Marketplace health insurance, it may be because a positive number was made for the adjustment to the Marketplace premiums during the Premium Tax Credit Q&A. This adjustment entry may need to be a negative number.

The Adjustment can be corrected in the Alerts section of the TaxAct program:

  1. From within your TaxAct return (Online or Desktop), click Review
  2. Click Continue. On the next screen, click Run the Review 
  3. Continue through the alert screens until you reach the screen titled Error or Omission: Adjustment to Insurance Premiums
  4. Enter the amount as indicated on the screen in the instructions including the minus sign (-)
  5. Click Continue

The IRS has certain requirements that a return must meet in order to go through the transmission process from TaxAct to the IRS e-filing system. Because of this, there may be additional alerts you will see during the electronic filing process. E-file alerts ensure the return qualifies for the electronic submission.

Although the return passes all alerts in the TaxAct program, your return may still get rejected. If the return is rejected, you will receive an email outlining why the IRS did not accept the return. This gives you an opportunity to modify your return and re-submit it to the IRS again.