Form #8962 Premium Tax Credit
is used to reconcile the APTC Advance Premium Tax Credit – subsidy with your IRS # 1040.
If you got too high a subsidy or too low, it gets finalized at tax time. If your subsidies were too high you may have to pay penalties. See form 2210 Underpayment of tax and the instructions for more details.
but first you need the Proof of Coverage Form 1095 A from Covered CA
and B if applicable – like if you had Covered CA part of the year and other coverage the rest of the year, from an Insurance Company, Government – Like Medicare or Medi-Cal or your Employer.
IRS Instructions to file the RIGHT forms, if there are ANY issues or problems —- IRS — Affordable Care Act Tax Provisions
When you are done completing # 8962, enter the calculation on line 46 and/or 69 of 1040 form.
2018 Schedule 1 Additional Income & Adjustments to Income
If you didn’t file your 1040 or 8962 for 2017 – you’ll be getting a letter about that!
Explanation of differences in new 2018 tax forms
Do you think this process is complicated? See what my CPA thinks.
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Will Donald’s Executive order of 1.20.2017 eliminate having to pay back any excess APTC? Blog Insure Me Kevin.com 1.23.2017