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Form 8962 Premium Tax Credit PTC

Form 8962 Premium Tax Credit PTC

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Video instructions and help with filling out and completing Form 8962 Premium Tax Credit PTC

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Instructions and help about 8962 form 2023

hey there youtube so in this video i wanted to go over the irs form 8962 for premium tax credits so what is this form uh when do you get it why do you need it you you need to complete this form if you signed up for health insurance through the health insurance marketplace in the u.s and if in signing up for that you indicated that you were you know a low-income taxpayer right so if you're low income taxpayers you can get what's called the premium tax credit which basically says your gross premium is x we're going to give you an advance credit of why and so the amount of cash that you actually have to send us every month is just the difference obviously it's very favorable because it means that you're getting health insurance for a much lower cost because you're going to qualify for the credit anyway at the end of the year so let's look at an example here there's there's a couple of components so obviously the 8962 you'll need for your tax return but it starts with the the 1095 a from

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