How to “reconcile” your premium tax credit on 2019 taxes

Date:


Revealed on February 27, 2020

You have got till April 15, 2020 to file your 2019 federal revenue tax return. When you had a Market plan in 2019 and used to decrease your month-to-month cost, you’ll must “reconcile” your tax return.

Via “reconciling,” you’ll discover out if there’s any distinction between the premium tax credit score you used and the quantity you qualify for. Any distinction between the 2 figures will have an effect on your refund or tax owed.

How you can “reconcile” your premium tax credit score on 2019 taxes:

  1. Discover your Form 1095-A, and confirm its accuracy. When you didn’t get one, verify your on-line Market account. If it’s not there, strive the Call Center. See how to be sure the information is correct.
  2. Print Form 8962 (PDF, 112 KB) and instructions (PDF, 356 KB).
  3. Use the knowledge out of your 1095-A kind to finish Half II of Kind 8962. Refer to this table as a guide.



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