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Level 2
Mar 29, 2021 7:14 PM UTC
Question

Form 8885 HCTC

I qualify for the HCTC. I pay my premiums a month in advance. Do I use the amount I pay each month or what I am charged per month? As I pay January's in December previous year. My rates change so it makes a difference.

    4 replies

    Alumni - Intuit
    Mar 29, 2021 9:53 PM UTC

    Please clarify – are you referring to premiums that you pay in advance, or advance payments you receive?

    According to the TurboTax article What Is Form 8885: Health Coverage Tax Credit, you would omit any advance payments you received.

    See also Line 2 in the Instructions for Form 8885. 

    CH103Author
    Level 2
    Mar 30, 2021 2:02 AM UTC

    These are premiums I pay one month in advance. Please advise.