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Get Irs 8962 2017
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How to fill out the IRS 8962 online
The IRS Form 8962 is essential for individuals who are claiming the Premium Tax Credit (PTC). This guide provides clear, step-by-step instructions to help you fill out the form online effectively.
Follow the steps to complete the IRS 8962 online.
- Click the ‘Get Form’ button to obtain the form and open it for editing.
- Enter the name as shown on your return and your Social Security number in the designated fields.
- Proceed to Part I and enter your annual and monthly contribution amounts. Begin by providing your tax family size by referencing Form 1040 or Form 1040A.
- Input your modified adjusted gross income (AGI) in the appropriate field and calculate your household income.
- Refer to the federal poverty line table to determine your percentage relative to it, and make sure to check the box for the applicable table.
- If your percentage exceeds 401%, you are not eligible for the PTC. Otherwise, continue to compute your applicable figure based on the previous lines.
- Calculate your annual contribution amount by multiplying your household income from line 3 by the applicable figure found earlier.
- To find the monthly contribution amount, divide the annual contribution amount by 12.
- In Part II, determine if you need to allocate policy amounts and complete the necessary sections depending on your circumstances.
- For both annual and monthly calculations, complete lines according to the instructions, ensuring to add correct figures from your Forms 1095-A.
- Finalize the calculations to find your total premium tax credit, advance payment of the PTC, and net premium tax credit.
- Proceed to Parts IV and V as needed based on your situation regarding allocations and alternative calculations, filling out the necessary details.
- After completing the form, review your entries for accuracy before saving changes, downloading, printing, or sharing the form.
Start filling out your IRS Form 8962 online today!
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Whether you receive a refund for your premium tax credit depends on your specific tax situation. If you underestimated your income during the year, you might be eligible for a refund when you file IRS Form 8962. It is vital to accurately complete this form to ensure you claim any credits or refunds you qualify for.
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