Question: Phil, you posted a draft version of the IRS Form 8962 a while back. Do you have a download for the final version?
Answer: Yes. Download IRS Form 8962.
When you file your federal taxes, you or your tax preparer will use the information on Form 1095-A to complete IRS Form 8962. You will use Form 8962 to tell the IRS how much premium assistance was paid to your health plan on your behalf in 2014. Using the form you will:
- Calculate the total amount of premium tax credit that you are allowed to claim based on your coverage, income and family size.
- Compare the amount of premium assistance that was paid in advance on your behalf to the premium tax credit.
- ￼￼￼Determine the amount by which the premium tax credit exceeds the amount of premium assistance received, if any. And, claim it as the net premium tax credit on your federal income tax return.
- Determine the amount by which your premium assistance received exceeds your premium tax credit, if any, and report it on your federal income tax return. You will have to repay some or all of this excess amount.