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Form 8962 for tax credits If you bought your health insurance from the Marketplace, you will file Form 8962 with your tax return. The ACA law includes a special Premium Tax Credit to help certain people pay the costs of health insurance, and Form 8962 relates to that credit.

Purpose of Form 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).

0:43 5:59 How to Fill Out Form 8962 or Premium Tax Credit (PTC) | PDFRun YouTube Start of suggested clip End of suggested clip Data at the top of the form. Provide your full legal name and social security number for part oneMoreData at the top of the form. Provide your full legal name and social security number for part one enter information for your annual. And monthly contribution.

Purpose of Form As a result, you should complete Form 8962 only for health insurance coverage in a qualified health plan purchased through a Marketplace. This includes a qualified health plan purchased on HealthCare.gov or through a State Marketplace.

The purpose of Form 8962 is to allow filers to calculate their Premium Tax Credit (PTC) amount with their federal income tax return. With that amount, they're then able to reconcile that amount with any advance payments of the Advance Premium Tax Credit (APTC) that have been made for the filer throughout the year.

The easiest way to avoid having to repay a credit is to update the marketplace when you have any life changes. Life changes influence your estimated household income, your family size, and your credit amount. So, the sooner you can update the marketplace, the better.

0:29 2:29 How to Fill Out an 8962 Tax Form? - YouTube YouTube Start of suggested clip End of suggested clip And 10. In line 11 fill the annual totals in the table. In lines 12 through 23 fill out the monthlyMoreAnd 10. In line 11 fill the annual totals in the table. In lines 12 through 23 fill out the monthly amounts under each column indicate the total tax premium credit on line 24.

Where Do I Get Form 8962? Form 8962 is available on the IRS website and is free to download. 5 If you're filing taxes using electronic tax filing software, this form should be generated for you as you navigate through the program's questionnaire format.

In general, it is very important to file your federal tax return with Form 8962 for any year you received an advanced premium tax credit. If you don't file Form 8962, the IRS will call this a failure to reconcile, and you could be prevented from applying for Marketplace premium tax credits in the future.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232