Revealed on April 4, 2024
Methods to “reconcile” your tax credit score
Should you (or anybody in your family) certified for or used the premium tax credit score to decrease your Market plan premium at any level in 2023:
- You’ll use your Kind 1095-A to fill out IRS Form 8962, Premium Tax Credit (PDF, 110 KB) to reconcile your 2023 premium tax credit score whenever you file your taxes.
- Any distinction between the quantity of premium tax credit score you used final yr and the premium tax credit score you really qualify for primarily based in your remaining earnings will have an effect on your refund or taxes you owe.
- Report any variations in your taxes and embrace Kind 8962 whenever you file.
- Get step-by-step instructions on tips on how to reconcile.