Get IRS 8962 2016

The purpose of Form 8962 is to allow filers to calculate their Premium Tax Credit (PTC) amount and to reconcile that amount with any Advance Premium Tax Credit (APTC) payments that have been made for the filer throughout the year. Not everyone can file Form 8962 and claim the Premium Tax Credit.

If any of the circumstances above apply to you, you must file an income tax return and attach Form 8962 even if you are not otherwise required to file. You must use Form 1040 or Form 1040NR. ... You do not need to file Form 8962.

A tax credit you can take in advance to lower your monthly health insurance payment (or premium ). ... If at the end of the year you've taken more premium tax credit in advance than you're due based on your final income, you'll have to pay back the excess when you file your federal tax return.

You must file Form 8962 with your income tax return (Form 1040 or Form 1040NR) if any of the following apply to you. APTC was paid for you or another individual in your tax family.

If you completed your tax return originally in TurboTax you can add this form online and should not be charged. In order to complete the 8962 you will need to start as an amending return but that return will not be filed. ... Only the Form 8962 the IRS requested is sent in, do not send the entire amended return.

During the efile process, enter $1 as your income. The software will direct you to the correct form based on the information you provide. Though you may file a tax return without Form 8962, the IRS may send you a letter asking you to send them your Premium Tax Credit information.

A tax credit you can take in advance to lower your monthly health insurance payment (or premium ). ... If at the end of the year you've taken more premium tax credit in advance than you're due based on your final income, you'll have to pay back the excess when you file your federal tax return.

The premium tax credit is a refundable tax credit designed to help eligible individuals and families with low or moderate income afford health insurance purchased through the Health Insurance Marketplace, also known as the Exchange. ... If you owe no tax, you can get the full amount of the credit as a refund.

If you use more advance payments of the tax credit than you qualify for based on your final yearly income, you must repay the difference when you file your federal income tax return. If you use less premium tax credit than you qualify for, you'll get the difference as a refundable credit when you file your taxes.

The Advanced Premium Tax Credit is a federal tax credit for individuals that reduces the amount they pay for monthly health insurance premiums when they buy health insurance on the Marketplace.

If you overestimate your income AND you purchase your health insurance on the federal exchange (or state marketplace, depending on where you live), then you will receive all of your qualify subsidy as a tax credit when you file taxes at the end of the year.

The form provides information about your insurance policy, your premiums (the cost you pay for insurance), any advance payment of premium tax credit and the people in your household covered by the policy. Insurance companies in health care exchanges provide you with the 1095-A form.

If you are expecting to receive a Form 1095-A, you should wait to file your income tax return until you receive that form. However, it is not necessary to wait for Forms 1095-B or 1095-C in order to file. ... While the information on these forms may assist in preparing a return, they are not required.

No, the 1095-C form just proves that you had health coverage. It would not affect your refund as long as you answered the Health Insurance questions accurately. You don't need your form 1095-C to file your tax return. TurboTax will ask you questions about your health coverage but your form 1095-C isn't needed.

Check your 1095-A to make sure it's correct Carefully read the instructions on the back, and make sure the information is accurate. If anything about your household or coverage is wrong, contact the Marketplace Call Center. They'll send a corrected version. Don't file your taxes until you get it.