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TurboTax will automatically fill out Form 8962 once you enter your Form 1095-A. You have to include Form 8962 with your tax return if: You qualified for the Premium Tax Credit in 2023. You or someone on your tax return received advance payments of the Premium Tax Credit. A member of your family received advance payments of the Premium Tax ...
Once the form is gone, TurboTax will accept a NO answer and you can then re-submit your tax return. January 30, 2022 6:41 PM. Err or message F8962-006-01 is a code from the IRS to explain the rejection. It does refer to Form 8962, which reconciles the Advanced Premium Tax Credit from your Form 1095-A.
I’m getting the F8962-070 - The e-File database indicates that Form 8962 or a binary attachment with description containing "ACA Explanation" must be present in the return. After first rejection, I reinstalled Turbo Tax and visited the 1095-A section. I don’t even have a 1095-A. It is still rejected the second time. Please fix this ASAP!
I've read through the 8962 instructions and Pub. 974 and I'm still very confused about 8962 shared allocations. Here's my situation: I divorced in 2018. I am required to pay health insurance for both of our kids. I claim our daughter as dependent, my ex-spouse claims our son (50/50 custody arrangement).
Based on your income and filing status the excess PTC would have been reported on the 8962 Line 29. This amount flows to Schedule 2 Line 2. The total amount from Schedule 2 Line 3 flows to your federal tax return, Form 1040 Line 17 as a tax liability.
Form 8962 is used to calculate the advance premium tax credit and to reconcile it with the advance premium already received. In TurboTax, you do not fill form 8962 yourself. The form is automatically populated by TurboTax and included in your tax return after you have entered your form 1095-A. January 18, 2022 12:08 PM.
I need to do estimated taxes and this is a frustrating delay.) and the 8962 is STILL not calculating line 11 correctly. If you make over 400% of poverty level TurboTax 2022 thinks you have to pay all of the advance premium tax credit back. Using TurboTax 2021, the 8.5% of SLCSP is computed and then used to fill line 11 - block E.
See the form in the link below. Form 8962 . If you purchased insurance through the marketplace and received a 1095-A, that must still be reported on your return.This will calculate the Net Premium Tax Credit on Form 8962. This form reconciles the amount of the credit available to you with the amount already received as an Advance Premium Tax ...
1 Best answer. Yes, the health insurance premiums deduction on Schedule A for premiums paid for Affordable Care Act insurance comes from the form 8962. The amount of premiums paid (Col A) in your example is 5559 minus the amount paid by premium tax credits (Col F) 3828 = 1731. Then add back the amount the taxpayer has to repay (1500) yields 3231.
SusanY1. Expert Alumni. Since you have already filed your tax return, you may wish to wait for an inquiry regarding those forms. That inquiry will have a direct contact fax/address for the area assigned your return to work on specifically and will speed up processing significantly.