Form 8962 Premium Tax Credit with Form 1095-A for 2024

The Premium Tax Credit (PTC) is designed to help supplement the cost of health insurance for taxpayers who enroll in qualified plans through the federal health insurance marketplace at healthcare.gov.

If a taxpayer receives advanced monthly payments to supplement their health insurance premiums, they will receive a Form 1095-A, which reports those amounts. The taxpayer must complete Form 8962 to reconcile their allowable PTC with advanced payments made throughout the year. The taxpayer may have to repay some amounts or may be entitled to additional credits.

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