Printed on April 4, 2024
How one can “reconcile” your tax credit score
If you happen to (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 while you file your taxes.
- Any distinction between the quantity of premium tax credit score you used final 12 months and the premium tax credit score you really qualify for based mostly in your ultimate revenue will have an effect on your refund or taxes you owe.
- Report any variations in your taxes and embrace Kind 8962 while you file.
- Get step-by-step directions on how to reconcile.
