What is 8962 Form?

The 8962 Form, also known as the Premium Tax Credit (PTC) form, is a document used by individuals and families who have obtained health insurance through the Affordable Care Act (ACA) Marketplace. It is an important form that determines if you are eligible for the Premium Tax Credit, which helps reduce your monthly health insurance premiums. By completing the 8962 Form correctly, you can ensure that you are receiving the correct amount of financial assistance for your health insurance costs.

What are the types of 8962 Form?

There is only one type of 8962 Form, which is used to calculate and reconcile the Premium Tax Credit. However, the form may differ depending on the tax year for which you are filing. It is crucial to use the correct year's form to avoid any discrepancies or errors in your tax return.

Use the appropriate year's 8962 Form to avoid errors.
Check the IRS website for the latest version of the form.

How to complete 8962 Form

Completing the 8962 Form can be a straightforward process if you have all the necessary information and follow these step-by-step instructions:

01
Gather all your relevant documents, such as Forms 1095-A (Health Insurance Marketplace Statement) and 1095-B/C (Health Coverage).
02
Fill in Part I of the 8962 Form, providing your personal information and tax information.
03
If you have multiple tax filers in your household, fill in Part II of the 8962 Form to allocate the Premium Tax Credit.
04
Use the information from your Form 1095-A to complete Part III of the form, calculating your Premium Tax Credit and reconciling any advance payments.
05
Double-check all the information entered on the form for accuracy and completeness.
06
Sign and date the form before submitting it with your tax return.

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Questions & answers

0:29 2:30 How to Fill Out an 8962 Tax Form? - YouTube YouTube Start of suggested clip End of suggested clip Parts start by filling out your name and social security number proceed to part one to indicate yourMoreParts start by filling out your name and social security number proceed to part one to indicate your annual and monthly contribution amounts using your family size modified adjusted gross income.
The IRS will reject electronically filed tax returns for 2021 that are missing a required Form 8962, Premium Tax Credit (PTC). Form 8962 reconciles advance premium tax credit (APTC) payments with the health insurance premium credit claimed on the taxpayer's return. All taxpayers who claim the PTC must file 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.
Yes - TurboTax can prepare Form 8962 - Premium Tax Credit (PTC) for you. Enter the 1095-A form you received into your return. TurboTax will calculate Form 8962 for you.
Filling out Form 8962 online is easy, thanks to Jotform. With Jotform Smart PDF Forms, you can easily upload the PDF of Form 8962 to the Smart PDF Forms tool, which will convert the PDF into an online form that you can complete. Once you've filled out the form, you can even save it in its original PDF format.
You can electronically file Form 8962, Premium Tax Credit (PTC), along with your federal income tax return. Filing electronically is the easiest way to file a complete and accurate tax return. To find out more about the premium tax credit, visit IRS.gov/aca.