Insurance Form 8962

Form 8962 is the premium tax credit form.

Insurance form 8962. You use the information on the 1095 a form to fill out part ii of the 8962 form which is how you find out if there s any difference between the advanced payments of premium tax credit aptc you used and the amount of premium tax credit you qualify for this process is called reconciling. Form 8962 is used either 1 to reconcile a premium tax credit advanced payment toward the cost of a health insurance premium or 2 to claim a premium tax credit. Reconcile it with any advance payments of the premium tax credit aptc. As a result you should complete form 8962 only for health insurance coverage in a qualified health plan purchased through a marketplace.

Use form 8962 to figure the amount of your premium tax credit ptc and reconcile it with advance payment of the premium tax credit aptc. We sent you letter 12c because. Department of the treasury internal revenue service. Premium tax credit ptc attach to form 1040 1040 sr or 1040 nr.

Form 8962 premium tax credit if you had marketplace insurance and used premium tax credits to lower your monthly payment you must file this health insurance tax form with your federal income tax return. This page will specifically cover the form 8962 which is used for the premium tax credit ptc. Information about completing form 8962 premium tax credit to reconcile advance payments to your individual tax return. You may take ptc and aptc may be paid only for health insurance coverage in a qualified health plan defined later purchased through a health insurance marketplace marketplace also known as an exchange.

Form 8962 premium tax credit ptc is the form you will need to report your household modified agi magi your federal poverty level amount your family s health insurance premium exemptions and the cost assistance you received. 2 part i is where you record annual and monthly contribution amounts using your family size modified adjusted gross income and household. Use form 8962 to figure the amount of your premium tax credit ptc. Reconciling your advance payments of the premium tax credit internal revenue service skip to main content.

For instructions and the latest information. The ptc is a refundable tax credit that can be claimed by eligible persons and families with low to moderate incomes between 100 and 400 of the federal poverty line to help individuals afford health insurance purchased through the health insurance marketplace or the exchange at healthcare gov. Form 8962 is a two page form broken into five parts. You ll use this form to reconcile to find out if you used more or less premium tax credit than you qualify for.