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  1. www.irs.gov › instructions › i8962Instructions for Form 8962 (2023) - Internal Revenue Service

    Premium tax credit (PTC). The PTC is a tax credit for certain people who enroll, or whose family member enrolls, in a qualified health plan. The credit provides financial assistance to pay the premiums for the qualified health plan offered through a Marketplace by reducing the amount of tax you owe, giving you a refund, or increasing your ...

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  3. www.irs.gov › forms-pubs › about-form-8962About Form 8962, Premium Tax Credit | Internal Revenue Service

    Information about Form 8962, Premium Tax Credit, including recent updates, related forms and instructions on how to file. Form 8962 is used either (1) to reconcile a premium tax credit advanced payment toward the cost of a health insurance premium, or (2) to claim a premium tax credit.

  4. www.irs.gov › the-premium-tax-credit-the-basicsThe Premium Tax Credit – The basics - Internal Revenue Service

    The premium tax credit – also known as PTC – is a refundable credit that helps eligible individuals and families cover the premiums for their health insurance purchased through the Health Insurance Marketplace. To get this credit, you must meet certain requirements and file a tax return with Form 8962, Premium Tax Credit (PTC).

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  6. turbotax.intuit.com › tax-tips › health-careWhat is the Premium Tax Credit (PTC) and What is Tax Form 8962?

    • What Is The Premium Tax Credit?
    • Eligibility Requirements For The Premium Tax Credit
    • What Is Tax Form 8962?

    The premium tax credit is a refundable tax credit that can help lower your insurance premium costs when you enroll in a health plan through the Health Insurance Marketplace. You can receive this credit before you file your return by estimating your expected income for the year when applying for coverage in the Marketplace. This counts as the advanc...

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    You must meet all of the following criteria to qualify for the premium tax credit: 1. You must get your health care coverage through the Marketplace 2. You can't be eligible for health care coverage through alternative options such as your employer or the government 3. Your income needs to fall within a certain range 4. Another person can't claim y...

    See full list on turbotax.intuit.com

    If you purchased health insurance from the Healthcare.gov site — or your state healthcare marketplace if you live in a state that maintains one — you'll need to use Tax Form 8962. This form has two parts you'll need to fill out: 1. Determining your eligibility for the credit 2. Claiming the premium tax credit Form 8962 is also used to reconcile the...

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  7. www.investopedia.com › irs-form-8962-understandingForm 8962: Premium Tax Credit. What It Is and How to File

    Nov 22, 2023 · Form 8962 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...

  8. www.healthcare.gov › taxes-reconcilingHow to reconcile your premium tax credit | HealthCare.gov

    To reconcile, you compare two amounts: the premium tax credit you used in advance during the year; and the amount of tax credit you qualify for based on your final income. You’ll use IRS Form 8962 to do this.

  9. amynorthardcpa.com › form-8962How to File Form 8962: Step-by-Step Instructions

    Form 8962, also known as the Premium Tax Credit (PTC) form, is used to reconcile and calculate the premium tax credit for those who have health insurance through the Health Insurance Marketplace. Form 8962 must be completed if you received advance payments of the premium tax credit (APTC) or if you want to claim the credit on your tax return.

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