Cat. No. 37784Z Form 8962 2018 Page Allocation of Policy Amounts Complete the following information for up to four policy amount allocations. Form OMB No. 1545-0074 Premium Tax Credit PTC Department of the Treasury Internal Revenue Service Name shown on your return Attach to Form 1040 or Form 1040NR. Go to www.irs.gov/Form8962 for instructions and the latest information. Attachment Sequence No. 73 Your social security number You cannot take the PTC if your filing status is married filing...separately unless you qualify for an exception see instructions. If you qualify check the box Part I 2a b. Annual and Monthly Contribution Amount Tax family size. Enter your tax family size see instructions. Modified AGI. Enter your modified AGI see instructions. Enter the total of your dependents modified AGI see instructions. Household income. Add the amounts on lines 2a and 2b see instructions. 2b Federal poverty line. Enter the federal poverty line amount from Table 1-1 1-2 or 1-3 see...instructions. Check the appropriate box for the federal poverty table used* a Alaska Hawaii c Other 48 states and DC. Did you enter 401 on line 5 See instructions if you entered less than 100. No* Continue to line 7. Yes. You are not eligible to take the PTC. If advance payment of the PTC was made see the instructions for how to report your excess advance PTC repayment amount. Applicable Figure. Using your line 5 percentage locate your applicable figure on the table in the instructions 8a Annual...contribution amount. Multiply line 3 by line 7. Round to nearest whole dollar amount b Monthly contribution amount. Divide line 8a by 12. Round to nearest whole dollar amount 8b Are you allocating policy amounts with another taxpayer or do you want to use the alternative calculation for year of marriage see instructions Yes. Skip to Part IV Allocation of Policy Amounts or Part V Alternative Calculation for Year of Marriage. See the instructions to determine if you can use line 11 or must...complete lines 12 through 23. Yes. Continue to line 11. Compute your annual PTC. Then skip lines 12 23 and continue to line 24. your monthly PTC and continue to line 24. Annual Calculation a Annual enrollment premiums Form s 1095-A line 33A b Annual applicable SLCSP premium Form s 1095-A line 33B d Annual maximum premium assistance subtract c from b if zero or less enter -0- contribution amount line 8a e Annual premium tax f Annual advance credit allowed payment of PTC Form s smaller of a or d...Annual Totals Monthly a Monthly enrollment b Monthly applicable 1095-A lines 21 32 Form s 1095-A lines column A 21 32 column B amount from line 8b or alternative marriage monthly calculation d Monthly maximum f Monthly advance e Monthly premium tax January February March April May June July August September October November December Total premium tax credit. Enter the amount from line 11 e or add lines 12 e through 23 e and enter the total here Advance payment of PTC. Enter the amount from line...11 f or add lines 12 f through 23 f and enter the total here Net premium tax credit.
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Instructions and Help about IRS 8962
How to edit IRS 8962
How to fill out IRS 8962
Instructions and Help about IRS 8962
How to edit IRS 8962
To edit IRS 8962, you can use a document editing tool like pdfFiller. This tool allows you to make necessary changes to your form easily and efficiently. Simply upload your existing IRS 8962 form, make the required edits, and then save or print the updated document for your records.
How to fill out IRS 8962
Filling out IRS 8962 requires accurate information about your premium tax credit and other relevant details. Follow these steps:
01
Gather your Form 1095-A, Health Insurance Marketplace Statement.
02
Complete Part I to provide information about the taxpayer and the household.
03
Fill out Part II, calculating your premium tax credit based on the information from Form 1095-A.
04
Complete Part III, detailing the shared responsibility payment if applicable.
05
Review your entries for accuracy before submitting.
About IRS 8 previous version
What is IRS 8962?
What is the purpose of this form?
Who needs the form?
When am I exempt from filling out this form?
Components of the form
What are the penalties for not issuing the form?
What information do you need when you file the form?
Is the form accompanied by other forms?
Where do I send the form?
About IRS 8 previous version
What is IRS 8962?
IRS 8962 is the tax form used to calculate the Premium Tax Credit (PTC) for taxpayers who received health insurance through the Health Insurance Marketplace. This form is essential for reconciling the advance premium tax credit received with the actual premium tax credit for which the taxpayer is eligible.
What is the purpose of this form?
The purpose of IRS 8962 is to ensure that taxpayers properly report their premium tax credit on their tax return. The form helps determine if the estimated tax credits received are correct or if any adjustments are needed based on actual income and household information for the tax year.
Who needs the form?
Taxpayers who enrolled in a qualified health plan through the Health Insurance Marketplace and received advance payments of the premium tax credit must file IRS 8962. If you did not receive any advance payments, you do not need to fill out this form.
When am I exempt from filling out this form?
You are exempt from filling out IRS 8962 if you did not receive advance premium tax credits or if you are not required to file a tax return. Additionally, if you had a short gap in coverage of less than three months, you may not need to complete the form.
Components of the form
IRS 8962 consists of three main parts: Part I details information about all members of your household, Part II reconciles the advance premium tax credits with the actual PTC, and Part III reports any shared responsibility payment for not maintaining health insurance coverage.
What are the penalties for not issuing the form?
Failing to submit IRS 8962 when required can lead to penalties. The IRS may deny the premium tax credits for future tax returns if the form is not filed, or you may face additional tax liabilities if you incorrectly report your premium tax credit.
What information do you need when you file the form?
To file IRS 8962, you will need your Form 1095-A, your tax return information, details about your household's size, and income. This information is crucial for correctly calculating your premium tax credit and reconciling any advance payments received.
Is the form accompanied by other forms?
IRS 8962 is often filed alongside your Form 1040 or 1040-SR. If you received advance premium tax credits, you may also need to attach Form 1095-A for verification of your coverage and the credit amounts.
Where do I send the form?
You should send IRS 8962 along with your federal tax return to the address specified in the instructions for your Form 1040 or 1040-SR. If you are filing electronically, the software will guide you through the submission process.
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