PC-12
Flight Crew Commercial; Flight Crew Multiengine
Flight Crew Last 90 Days 300; Flight Crew Total 3000; Flight Crew Type 600
Confusion; Situational Awareness
Conflict NMAC
Flight Crew Took Evasive Action
Human Factors; Environment - Non Weather Related
While on approach at 1;500 MSL we had a near miss with a C172. ATC called our traffic one o'clock and a half mile. I called the traffic in sight and the Controller switched us to the next frequency. At that time our TCAS system gave a traffic alert and I looked up and saw the C172 headed for a head on collision; I pull back on the yoke and banked left to avoid the collision. The traffic I thought was the C172 was another aircraft several miles en-trail.
A pilot was alerted by TRACON about traffic at his altitude but mistook another aircraft for the reported traffic then took evasive action from head on traffic; missing by about 50 feet.