Is there a form 8962 for 2019?
Form 1095-A, Health Insurance Marketplace Statement. You will need Form 1095-A to complete Form 8962. For coverage in 2019, the Marketplace is required to provide or send Form 1095-A to the individual(s) identified in the Marketplace enrollment application by January 31, 2020.
Is form 8962 required for 2019 taxes?
I filed my 2019 federal income tax return but didn’t realize I needed to include Form 8962. The law requires you to file a tax return at year end and reconcile your estimated income with your actual income. If you had under-estimated your 2019 income, you might have repay some of the 2019 APTC that you received.
Is Form 8962 the same as 1095 a?
If you or anyone in your household enrolled in a health plan through the Health Insurance Marketplace, you’ll get Form 1095-A, Health Insurance Marketplace Statement. You will get this form from the Marketplace, not the IRS. To do this you will use Form 8962, Premium Tax Credit, which you file with your tax return.
What happens if you don’t file form 8962?
What if I file but don’t include Form 8962? For any year when you received advanced premium tax credits, you are required to file a federal income tax return, including Form 8962. If you fail to do this — it is called “failure to reconcile” — you may be unable to apply for premium tax credits for the following year.
Who must file IRS Form 8962?
Only those who have health insurance through the Affordable Care Act health insurance Marketplace (also known as the Exchange) are eligible to use Form 8962, and not everyone who has Marketplace coverage can qualify. If you used healthcare.gov or your state’s health insurance exchange to get coverage, you may qualify.
Is Form 8962 the same as 1095-a?
How to fill out Tax Form 8962?
Internal Revenue Service or you can simply download IRS Form 8962 here .
What forms to send with Form 1040?
W-2. One of the forms you will attach to your 1040 is your W-2 Wage and Tax Statement from your employers.
Where is the tax liability on the 1040 Form?
You can find your tax liability for the year on lines 37 and 38 of the revised 2020 Form 1040. Appropriately, line 37 says, “Amount you owe.” Line 38 is dedicated to any penalty you might owe for making your estimated tax payments late. Two lines on Form 1040 actually refer to your tax liability.
Do I have to file Form 8962?
Yes, you will need to file a tax return in order to file Form 8962. That way, you can continue qualifying for advance tax payments on your Marketplace health coverage.