Hi Jason, Me and my husband are retired. We received a 1095-A. I was confused as to why I needed to fill out the IRS form 8962. Your explanation is very well straight to the point. Nice video and informative. 👍🏽👍🏽
Yeah one's to give you the information and one's to calculate the effect on your taxes. Seems pretty straightforward. I wouldn't be complaining about filling out a couple forms if that's what it took for the government to fork over a couple thousand a year lol.
thank you for the simple explanation. now i understand why i owe more tax. i made more than i projected last year and have to pay back the difference that i was discounted.
if child is under 26, file tax on their own but still have health insurance thru market place with parent, how do you break enrollment $ amount and $ amount advance premium ? thanks
Hello, quick question? My sister didn't receive a Form 1065A but her ex husband did because he was responsible to pay for the children's health insurance. What must she do to complete her taxes?
My issue is, My Ex-husband carried my son on his insurance via the marketplace last year but, it is my year to claim him as a dependent. Now what? ugh!
Great video! Question: My spouse and I were married all year and will again file jointly. However, we both had different level plans on the marketplace (silver and gold) for the first time. We received two 1095A forms. Each form has the same info down the columns without change for the entire year. My understanding is I I have to combine columns A and C, and not combine B. My question is this: Do I combine the amounts and total them on line 11 as annual totals since each 1095A had unchanged amounts? Or since we had two different 1095A forms that covered each of our plan for the same months - do i need to combine the totals in lines 12-22 for monthly totals? Thanks
I never received a 1095A but I got the notice from the IRS and I am unable to file my taxes I even called the marketplace and they have no 1095A for me so I don’t know what to do
Yes, if you e-file a Form 1040 and it doesn't include Form 8962 when the IRS thinks you received a Form 1095-A, you will get an e-file rejection notice. In prior years, you could still e-file, and the IRS would send a follow up notice within a year or so to ask for the Form 8962. You can contact the IRS and ask for an "Account Transcript" and a "Wage and Income Transcript" which would show 1099s submitted by the marketplace, if any.
Hi jason i had one question for you please i had only one coverage which is october 2023 during the entire year then i cancel the plan .this plan was for me and my wife we didnot need medical visits period ....how our 1095a will look like?! Thanks for your support as always.
I signed up for health insurance through the marketplace, but I didn't know about the Premium Tax credit at the time. I paid the monthly premiums from my savings. My income in 2022 was less than the standard deduction ($12,950). I learned later on that because my income was so low that I could have premiums refunded. Is that true, if so, should I be filling out form 8962 for the refund, or a different form? ....In any case, this video was very helpful. Thanks again.
Hi, I'm hoping someone has an answer for this quick question I have. I received a 1095-A this year, however the part 3 A. Monthly enrollment premiums and the C. Monthly advance payment of premium tax credit are matching all across the board, meaning the difference between the two is 0. Do i still have to fill out and submit a Form 8962? Thanks in advance if you know anything about this, I really appreciate it.
Hi Jason, great video, thanks for sharing. How do I go about completing the form if I am claiming my mom who lives with me and is a dependent? Do I add her name or mine at the top of form 862?
Good day. My parents apply for insurance in the marketplace. What happens if they overreported the income in marketplace? For example, they estimated the 2023 income to be $26,000 and it turns out that they will not make any money this year. So how much do they have to pay back to marketplace, like all of the Premium tax credit available per month x 12 months?
Hi Jason, My family member originally purchased insurance under the marketplace with the expectation that he would make more money but due to the economy ended up not being able to have much of an income. He paid the premium tax credit up front and was initially told he could get it back at tax credit as part of the refund. His total income is $600 for the year due to not being able to find an income. Does that mean he is ineligible for this tax credit?
So my daughter and me are included on my 1095-A. But her dad is going to claim her. But I did select the option that I was going to claim her when I applied for the healthcare marketplace. So what I did was just include my name and subtract half of my insurance total from the two of us and put that on my 1095-a section. He would need to do the same if I’m correct. I’m not sure if I’m going at this the right way or what I need to do going forward can anyone help me?
Wonderful video. What if I haven't applied for premium health tax credit because I was not sure about my income but now when I run the numbers I would have been eligible... Is there any way to do so while filing taxes ?
Yes! We just posted a new tutorial for the 2022 tax year on how to complete this form. Please see the link below: ua-cam.com/video/RwughYveM5M/v-deo.html
Question. If I got married during the year and put my wife on my health insurance, do I need to count the months that overlapped coverage? Or can i not input the C. Monthly advance payment of the premium credit since my health insurance covered her those months and didnt use the marketplace insurance. This 1095a cause of her market place insurance really cut my refund away from us. I have a 1095c to show when her coverage kicked in. 2 months overlap only.
If part 3 column B is empty and says 0$ and I had insurance for 6 members of the family, is that an error, I didn’t take any credit either through the year.
What marketplace ? Threw my husband job we paid for insurance $840 a month which is completely made us unable to pay for bills. Can we file this form to get some of that back since we fall in the poverty percentage ?!?
If you receive a Form 1095-A you'll need to complete and attach the Form 8962 to your tax return. If you don't complete the Form 8962, your tax return could be rejected if you efile.
The harsh reality of making a lot more money then expected last year lol got a new job so now I owe about $500 if u take my state return into consideration. It sucks but I’d rather make a lot more money and owe taxes then make less but get a nice return. Just wish I though about that before I did my return to prepare myself 😂
The premium tax credit is only available if you purchased health insurance through the exchange. If you didn't have health insurance, then you don't complete the Form 8962.
Hello Mr. Jason . I try to help my nephew. his father bought insurance from health insurance market place the question is. he needs to do his own tax and and his father put his name in the insurance. family size are 4 people. here example Month Monthly enrollment premium Monthly second (SLCSP) Monthly advance payment of Pre January $1743.23 $ 1793.49 $1747.23 these for 4 people in the family do I have to report all of this amount? or I have to divide it like 25% please let me know thank you in advance
Never again will I sign up for this bs. Had it for 6 months and it took that long to get an appointment within the network. Hell it took weeks to find a Dr. accepting new patients. The whole system is fkd.
You get longer amount of time then taxes would need to be filed which is April 15th i believe. I just called to check. And u can pay it over time but I believe each month that passes by interest is taxed
For a 2022 update, check here: ua-cam.com/video/RwughYveM5M/v-deo.html
How can you fill out the 8962 if you paid no monthly premium.
Hi Jason,
Me and my husband are retired.
We received a 1095-A.
I was confused as to why I needed to fill out the IRS form 8962.
Your explanation is very well straight to the point.
Nice video and informative. 👍🏽👍🏽
Glad to hear it was helpful!
Ridiculous. There is form to complete a form.
Yeah one's to give you the information and one's to calculate the effect on your taxes. Seems pretty straightforward. I wouldn't be complaining about filling out a couple forms if that's what it took for the government to fork over a couple thousand a year lol.
@@heresyhuntersits too complicated.
Agree
thank you for the simple explanation. now i understand why i owe more tax. i made more than i projected last year and have to pay back the difference that i was discounted.
Glad it was helpful. Thanks for watching!
if child is under 26, file tax on their own but still have health insurance thru market place with parent, how do you break enrollment $ amount and $ amount advance premium ? thanks
which year of the 1095- A am I using for 2023 Tax Return? The years is what confuse me. Shouldn't I be using the previous year from 2023 Tax return
Thanks for explaining this in simplified terms; What if the credit you receive now is much lower; Would be eligible for a tax refund?
Hello, quick question?
My sister didn't receive a Form 1065A but her ex husband did because he was responsible to pay for the children's health insurance. What must she do to complete her taxes?
My issue is, My Ex-husband carried my son on his insurance via the marketplace last year but, it is my year to claim him as a dependent. Now what? ugh!
Great video! Question: My spouse and I were married all year and will again file jointly. However, we both had different level plans on the marketplace (silver and gold) for the first time. We received two 1095A forms. Each form has the same info down the columns without change for the entire year. My understanding is I I have to combine columns A and C, and not combine B. My question is this: Do I combine the amounts and total them on line 11 as annual totals since each 1095A had unchanged amounts? Or since we had two different 1095A forms that covered each of our plan for the same months - do i need to combine the totals in lines 12-22 for monthly totals? Thanks
I never received a 1095A but I got the notice from the IRS and I am unable to file my taxes I even called the marketplace and they have no 1095A for me so I don’t know what to do
I'm having a similar problem. My return got rejected
Yes, if you e-file a Form 1040 and it doesn't include Form 8962 when the IRS thinks you received a Form 1095-A, you will get an e-file rejection notice. In prior years, you could still e-file, and the IRS would send a follow up notice within a year or so to ask for the Form 8962. You can contact the IRS and ask for an "Account Transcript" and a "Wage and Income Transcript" which would show 1099s submitted by the marketplace, if any.
turbo tax software . it ask you if you receive the form 1095a you must answer no. That what I do for my tax
Hi jason i had one question for you please i had only one coverage which is october 2023 during the entire year then i cancel the plan .this plan was for me and my wife we didnot need medical visits period ....how our 1095a will look like?! Thanks for your support as always.
My month premium is 144 and still I have a lot of medical bills I have to pay do I put all my medical bills that I paid
I’m not clear on the AGI. Is that the figure from line 15 of the 1040? If so, why is it asking for the modified AGI? Thanks.
I signed up for health insurance through the marketplace, but I didn't know about the Premium Tax credit at the time. I paid the monthly premiums from my savings. My income in 2022 was less than the standard deduction ($12,950). I learned later on that because my income was so low that I could have premiums refunded. Is that true, if so, should I be filling out form 8962 for the refund, or a different form? ....In any case, this video was very helpful. Thanks again.
How did you get 1,033$ line 8 A.? Hate taxes haha
Hi, I'm hoping someone has an answer for this quick question I have.
I received a 1095-A this year, however the part 3 A. Monthly enrollment premiums and the C. Monthly advance payment of premium tax credit are matching all across the board, meaning the difference between the two is 0.
Do i still have to fill out and submit a Form 8962?
Thanks in advance if you know anything about this, I really appreciate it.
Great video, thank you for posting it!
Thank you for the support!
Hi Jason, great video, thanks for sharing. How do I go about completing the form if I am claiming my mom who lives with me and is a dependent? Do I add her name or mine at the top of form 862?
What do I type in to get the 8962 for 2022? I'm trying to figure out where to start based on an amended 1095 I received. Can anyone help?
Hello, what if you didn't use any tax credit, even though you qualified for it.
How do you reconcile the numbers?
Thank you.
Good day. My parents apply for insurance in the marketplace. What happens if they overreported the income in marketplace? For example, they estimated the 2023 income to be $26,000 and it turns out that they will not make any money this year. So how much do they have to pay back to marketplace, like all of the Premium tax credit available per month x 12 months?
Hi Jason,
My family member originally purchased insurance under the marketplace with the expectation that he would make more money but due to the economy ended up not being able to have much of an income. He paid the premium tax credit up front and was initially told he could get it back at tax credit as part of the refund. His total income is $600 for the year due to not being able to find an income. Does that mean he is ineligible for this tax credit?
So my daughter and me are included on my 1095-A. But her dad is going to claim her. But I did select the option that I was going to claim her when I applied for the healthcare marketplace. So what I did was just include my name and subtract half of my insurance total from the two of us and put that on my 1095-a section. He would need to do the same if I’m correct. I’m not sure if I’m going at this the right way or what I need to do going forward can anyone help me?
Wonderful video. What if I haven't applied for premium health tax credit because I was not sure about my income but now when I run the numbers I would have been eligible... Is there any way to do so while filing taxes ?
do you have a video on how to fill the form
Yes! We just posted a new tutorial for the 2022 tax year on how to complete this form. Please see the link below: ua-cam.com/video/RwughYveM5M/v-deo.html
Do I fill out part Iv
Question. If I got married during the year and put my wife on my health insurance, do I need to count the months that overlapped coverage? Or can i not input the C. Monthly advance payment of the premium credit since my health insurance covered her those months and didnt use the marketplace insurance. This 1095a cause of her market place insurance really cut my refund away from us. I have a 1095c to show when her coverage kicked in. 2 months overlap only.
If part 3 column B is empty and says 0$ and I had insurance for 6 members of the family, is that an error, I didn’t take any credit either through the year.
Hey, I get a 1095 a but it was just for January because it rolled over but I had insurance through my employer, so what do I need to do?
Can all this be filled out with turbo tax?
What marketplace ? Threw my husband job we paid for insurance $840 a month which is completely made us unable to pay for bills. Can we file this form to get some of that back since we fall in the poverty percentage ?!?
You only file this form if you got a 1095-A.
Thank you 🙏🏼
by the way the 1095a belong to some body what should I do?
If you receive a Form 1095-A you'll need to complete and attach the Form 8962 to your tax return. If you don't complete the Form 8962, your tax return could be rejected if you efile.
@@JasonDKnott I don’t receive Form , but my father does, he bought for me, because the insurance company I work for too high
How can I download a copy of mines
You can reach out to your insurance carrier or the marketplace for a copy of the Form 1095. You will need this to prepare your Form 1040.
What a great reference in this form , the cost what I don't want too pay a payment.
Pass your email too ask more questions, please
The harsh reality of making a lot more money then expected last year lol got a new job so now I owe about $500 if u take my state return into consideration. It sucks but I’d rather make a lot more money and owe taxes then make less but get a nice return. Just wish I though about that before I did my return to prepare myself 😂
IMAGINE IF YOU REALLY HAD TO PAY THE WHOLE PREMIUM FOR YOUR HEALTH INSURANCE
What happens if I don't have insurance, how are we going to fill out the form?
The premium tax credit is only available if you purchased health insurance through the exchange. If you didn't have health insurance, then you don't complete the Form 8962.
Hello Mr. Jason . I try to help my nephew. his father bought insurance from health insurance market place
the question is. he needs to do his own tax and and his father put his name in the insurance. family size are 4 people.
here example
Month Monthly enrollment premium Monthly second (SLCSP) Monthly advance payment of Pre
January $1743.23 $ 1793.49 $1747.23
these for 4 people in the family
do I have to report all of this amount? or I have to divide it like 25%
please let me know
thank you in advance
Only one person should be receiving a 1095-A. That person puts it all on their return.
If the nephew is not the dependent he needs to allocate amounts among them on form 8962 pg2
I’m screwed
Never again will I sign up for this bs. Had it for 6 months and it took that long to get an appointment within the network. Hell it took weeks to find a Dr. accepting new patients. The whole system is fkd.
Thank you!
You're welcome!
Thanks
You're welcome!
How long would i have to pay back ?
You get longer amount of time then taxes would need to be filed which is April 15th i believe. I just called to check. And u can pay it over time but I believe each month that passes by interest is taxed
Thank you
You're welcome
Can I get it online
Yes, the forms are available online. If you login to your account with the Marketplace, you should be able to download a copy of the 1095
@@JasonDKnott can I attach it on turbo tax?
Bruh you not telling us shit on this video
DISLIKE button clicked. If they say ask questions in comments and don't answer them .... well, thumb down!