Use Form #8962 Premium Tax Credit 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 and the instructions for more details.
Form #8962 Premium Tax Credit (calculation)
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.
Other Pages and resources in
Kaiser Permanente Reminder & FAQ’s to do 2014 Taxes
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
How to fill out the exemptions part?
2017 Report on how well the IRS did on Verifying PTC Premium Tax Credits for the 2016 Tax year
Summary from Insure Me Kevin.com
GAO Report to Congressional Committees 7.2017 81 pages * Summary – Modern Health Care
- IRS # 2015-9 No Penalty on payback of excess subsidy for 2014
- Maximum Pay Back of APTC?
- Premium Subsidy Now or Tax Time?
- Tax Return Deadline & Mandate to File
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Historical
Molina Health Care reports that the IRS states that 57% of tax payers may lose the credits as they haven’t filed form 8962 or filed their taxes! Email dated 7.30.2015 IRS New York Times 8.4.2015
form 8962 for the agi, do I include va disability?
The IRS Website on VA Disability Benefits states that benefits do not count as income.
The definition of MAGI Income for Subsidies of taking line 37 of your 1040 and adding back in Social Security, Foreign Income and Tax Exempt Interest doesn’t mention VA benefits, so the answer would be no.