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8962 form

Get the free 8962 form 2021-2022

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...
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Comments and Help with form 8962 irs

Who needs an IRS form 8962?

The Premium Tax Credit form is used by the taxpayers to figure out the amount of their premium tax credit (PTC). This refundable credit helps eligible individuals and families with low or moderate income afford health insurance purchased through a Health Insurance Marketplace. The eligible individuals for a credit are listed in instructions to the IRS form 8962.

What is the purpose of the IRS form 8962?

The main purpose of the form is to calculate the amount of premium tax credit and include it to the tax return. That is why the form must be attached to the individual tax return form.

What documents must accompany the IRS 8962 form?

This form must be attached to forms 1040, 1040A or 1040NR. While completing the form, the taxpayer will need the 1095-A form,  Health Insurance Marketplace Statement.

When is the IRS 8962 form due?

The Premium Tax Credit must be filed with the IRS together with the individual tax return forms. The estimated time for completing the form is sixty minutes.

What information should be provided in the IRS 8962 form?

The taxpayer has to indicate the following information:

  • Name of the taxpayer

  • Social Security Number

  • Annual and monthly contribution amount

  • Premium tax credit claim and reconciliation of advance payment of premium tax credit

  • Repayment of excess advance payment of the premium tax credit

  • Allocation of policy amounts

  • Alternative calculation for year of marriage

What should I do with the form after its completion?

The completed form together with individual tax returns is forwarded to the local IRS office or filed electronically.

Video instructions and help with filling out and completing 8962 form
Instructions and Help about 8962 tax form
Form 8962 or the premium tax credit is used to calculate the amount of premium tax credit you're eligible to claim if you paid premiums for health insurance purchased through the health insurance marketplace claiming the premium tax credit may reduce your tax liability for the calendar year make sure to only use secure channels to fill out and submit your form you can either download your copy from the irs website or get the current revision of form 8962 that you can edit sign and submit electronically at pdffiller.com form 8962 is a two-page form split into five parts 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 and household income in line one enter the number of exemptions indicated in form 1040 or form 1040a use lines 2a and 2b to provide your modified agi enter your household income in line 3 by adding the amounts stated in lines 2a and 2b select the appropriate choice and enter the value in line 4. to make the calculations needed to complete lines 5 through 8 see the irs instructions for form 8962 in part 2 you will need to reconcile your advanced premium tax credit received with monthly premium amounts select the appropriate option in lines 9 and 10. in line 11 fill the annual totals in the table in lines 12 through 23 fill out the monthly amounts under each column indicate the total tax premium credit on line 24 and the advanced payment of ptc on line 25. follow the instructions to calculate the net premium tax credit and indicated in line 26. in part 3 you will need to calculate any excess advanced payment of ptc based on the information you provided in part two in line 27 enter the excess advanced payment of ptc enter the repayment limitation in line 28 use line 29 to provide the excess advance premium tax credit repayment in part four you will need to allocate policy amounts part five is used for alternative calculations for years married use irs form 1095-a to complete each section of the form as well as your form 1040 which shows your modified adjusted gross income once all the fields are completed and checked off you can save the resulting document to your device print it out or email it to your recipient in one click good luck and don't forget to submit your form 8962 before the due date established by the irs
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