If you can claim the premium tax credit and your insurer received advanced payments from the government, the second part of Form 8962 compares how much credit you used and your final available credit. There are three possible scenarios: If you elected to receive the refundable premium tax credit...
Find out how to fill out Premium Tax Credit Form 8962, the form for reporting ObamaCare Tax Credits. We'll review MAGI, FPL, and Adjusting credits.
The premium tax credit is generally paid in advance to the insurer issuing the qualified plan as an advance payment PTC, or APTC. The APTC is credited monthly against premiums for qualified plans; i.e., plans offered through theHealth Insurance Marketplace—that is, state and federal health ...
If you did not e-file your return with the Form 8962 for thePremium Tax Credit, the IRS will reject your return asking for this information. If you have already e-filed your return on eFile.com, you can simply return to your account, add the information from your 1095-A, and re-file...
Tax-Webinar-Part-3_Premium-Tax-Credits PartIII–PremiumTaxCredits November18,2014 Agenda 2 •Basicsonthepremiumtaxcredit•WalkthroughForm8962•ShowexamplesandcommonsituationsyouarelikelytoencounterNew!Finalformsarepostedfor:•Form8962,PremiumTaxCredithttp://www.irs.gov/pub/irs-pdf/f8962.pdf•...
To avoid owing additional taxes, you can choose to take less or none of the tax credit in advance. If you choose one of these options, the amount you're owed will be reflected on your tax return. If you have more questions about tax credits, the 1095-A and 8962 forms and how they...
Harry, no tax benefit, no deduction of premiums on 1040. But does anything need to be done regarding the 1095-a and form 8962 when applying for the premium tax credit in 2020 since the MLR rebate was used to reduce one month’s premium for 2020? I received no check. The insurance com...