rjs
Level 15
Level 15

After you file

For 2020 only, if you received excess Advance Premium Tax Credit, you do not have to repay the excess. In that case, Form 8962 is omitted from your tax return. TurboTax will not produce Form 8962 if it is not needed.

 

Form 8962 is only needed if you have a net Premium Tax Credit (additional credit owed to you). If there is no amount on Schedule 3 line 8 of your tax return (or if Schedule 3 is not included), Form 8962 is not included in your 2020 tax return.


The American Rescue Plan Act suspended the requirement to repay excess Advance Premium Tax Credit for 2020. For more details see the following on the IRS web site.


IRS suspends requirement to repay excess advance payments of the 2020 Premium Tax Credit


More details about changes for taxpayers who received advance payments of the 2020 Premium Tax Credi...