Premium Tax Credit

Did you receive the premium tax credit in 2019? If you did you will need to file Form 8962 with your 1040 to reconcile the 2019 Advance payments. Failure to file Form 8962 to reconcile your 2019 Advance Credit payments may make you ineligible for Advance payments of the premium tax credit in the future.

Remember to bring in form 1095-A that you received from the marketplace to your tax appointment or upload to your client portal. when preparing your own tax return remember you need 1095-A to fill in form 8962

Taxpayers or members of their family who enrolled in health insurance coverage for 2019 through the marketplace should receive Form 1095-A, Health Insurance Marketplace Statement. This form shows the months of coverage and any APTC paid to the taxpayer’s insurance company.