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Loverio
Level 2

Regarding Waiver to Pay Back Advance Premium Tax Credits

 
2 Replies
GeorgeDenseff
Level 8

Regarding Waiver to Pay Back Advance Premium Tax Credits

The IRS will refund your premium tax credit to you automatically.  The refund is not the entire credit, but the portion that you would have been required to pay.  

Go to your home page and click Add a State at the bottom of the page.  Then go to Tax Tools, and select Print.  Print the return with all TurboTax and government forms to a pdf file.  

In the pdf file find Form 8962. On Line 29, you’ll find out if you used more or less premium tax credit than you qualify for based on your final 2020 income.

Line 29 is the amount that will be refunded to you.  The amount is also on Schedule 2 Line 2.

Loverio
Level 2

Regarding Waiver to Pay Back Advance Premium Tax Credits

Thanks George, that had to be the fastest reply to a question I have ever received on any forum!

 

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