8962 form-2025

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The IRS needs the information on Form 8962 to process the tax return for taxpayers claiming a net PTC. If you have net PTC and receive a letter asking for more information, you should respond to the letter so that the IRS can finish processing your 2020 tax return and, if applicable, issue any refund due.
Basic information about Form 1095-A You will also use this form to reconcile advance payments of the premium tax credit made on your behalf with the premium tax credit you are claiming on your tax return. To do this you will use Form 8962, Premium Tax Credit, which you file with your tax return.
If you purchased health insurance from the Healthcare.gov site or your state healthcare marketplace if you live in a state that maintains one youll need to use Tax Form 8962. This form has two parts youll need to fill out: determining your eligibility for the credit. claiming the premium tax credit.
Taxpayers must file Form 8962 if any family member was enrolled in Marketplace health insurance and IRS records show that APTC was paid to their Marketplace insurance company. Taxpayers use Form 8962 to reconcile their APTC with the PTC they are allowed.
What happens if you dont fill out Form 8962? Not filing Form 8962 may result in a failure to reconcile6, which could impact your eligibility for Marketplace PTCs in the future. Failure to reconcile your past APTCs for two consecutive tax years will make you ineligible for APTCs moving forward.
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Form 8962, Premium Tax Credit If you had Marketplace coverage and used the premium tax credit to lower your monthly plan premiums, you must file this tax form with your federal income tax return. Youll use this form to. reconcile How you find out if you used the right amount of premium tax credit during the year.
Taxpayers whose electronically filed return is rejected because the Form 8962 is not attached should review their health insurance records, including Form 1095-A, Health Insurance Marketplace Statement.
If you paid full price and are sure you dont qualify for the premium tax credit. You dont have to fill out or include Form 8962, Premium Tax Credit, when you file your federal taxes.

form 8962 2020