All of the following statements regarding the Advance Premium Tax Credit (APTC) are true EXCEPT:

- If the actual Premium Tax Credit is greater than the APTC already received by the taxpayer, then the taxpayer is entitled to a deduction on the following tax year's Form 1040.

- If the APTC is greater than the actual Premium Tax Credit, the taxpayer repays the excess APTC as an additional tax liability on Form 1040.

-The Advance Premium Tax Credit reduces the taxpayer's cost of Marketplace coverage.

-The APTC is based on the taxpayer's projected income for the tax year and determined at the time of enrollment by the Marketplace.