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Level 3

I need to fill out a 8962 but only have 1040ez

We got a letter from the IRS that we needed to fill out a 8962 and that we need to attach a 1040, 1040A, or a 1040NR but we only have a 1040EZ. I am not sure what to do next.

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Level 9

I need to fill out a 8962 but only have 1040ez

You apparently had health insurance through the Affordable Care Act (Obamacare) in 2017. If you did, then the IRS needs to reconcile the amount of Premium Tax Credit (PTC) that you received with what you should have received.


The reason there is a reconciliation is because the amount of PTC that you receive (actually, it's paid directly to the insurance company to reduce your health insurance premiums) is based on your estimate of your earnings for 2017 that you made at the beginning of the year, but by the end of the year, your actual earnings may lead to a different amount of PTC - and you would either owe or get additional PTC as a result.


You should have received a 1095-A form in the mail earlier this year from the marketplace (federal or state) through which you bought the insurance. Call them or go online at the marketplace to get your 1095-A if you don't have it already.


When you get it, in TurboTax, go to the Health Insurance link (at the top of the screen, to the right of Deductions & Credits), click on this, and then go through the interview, answering that you bought insurance through a marketplace (Obamacare). When you do, you will have the chance to enter the information from the 1095-A.


I imagine that TurboTax will generate a 1040 or 1040A at the same time that it generates the 8962.


If you did NOT have Obamacare but regular insurance, write a nice reply back to the IRS stating that you did not have coverage under the Affordable Care Act but under XYZ company, and enclose a copy of your 1095-B or 1095-C.