Question: Where on the tax form is the Covered California premium reduction reconciliation done? As I was going through my taxes on TurboTax, it told me that based on my income, I was not eligible for the full premium reduction that I received, which means I owe some of that back. I can't see this reconciliation anywhere on the summary of my tax return. Where does this appear and where can I see how much I owe?
Answer: There are 2 IRS tax forms that you are going to need. First, IRS Form 1095A (draft version of form here) is issued by Covered California to every household eligible for a subsidy in 2014. It will be sent to you by 1/31/2015. It documents your coverage by month including premiums paid and advance premium tax credits received in 2014. Then, you will use IRS Form 8962 (draft version of form here) to reconcile 2014 federal income tax due with advance tax credits received.