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Level 2
posted Apr 14, 2021 8:18:09 AM

Form 8962 NOT being filed

I'm using TurboTax Premier 2020 for Windows.

 

I entered Form 1095-A. Form 8962 was produced, and Net premium tax credit is $0. I finished return, did final Review, no errors. Used Print Center to Save As PDF.

 

PDF does NOT include Form 8962.

 

You have stated that when a taxpayer received Advance Premium Tax Credits during 2020 (ie, will get Form 1095-A), that Form 8962 is REQUIRED with the tax return.

 

Why have you omitted it in a printed return? Will it be omitted in an e-file as well?

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1 Best answer
Level 2
Apr 15, 2021 7:31:22 AM

I've just partially answered my own question, by further reading the IRS link you gave. It states there:

 

"The Internal Revenue Service announced today that taxpayers with excess APTC for 2020 are not required to file Form 8962, Premium Tax Credit, or report an excess advance Premium Tax Credit repayment on their 2020 Form 1040 or Form 1040-SR, Schedule 2, Line 2, when they file."

 

That "not required to file Form 8962" description is not included in the Intuit article on this web site, so even though my question has now been answered (thank you), I recommend that Intuit include this new information in their article.

3 Replies
Level 15
Apr 14, 2021 8:23:22 AM


@mark_wr wrote:

I'm using TurboTax Premier 2020 for Windows.

 

I entered Form 1095-A. Form 8962 was produced, and Net premium tax credit is $0. I finished return, did final Review, no errors. Used Print Center to Save As PDF.

 

PDF does NOT include Form 8962.

 

You have stated that when a taxpayer received Advance Premium Tax Credits during 2020 (ie, will get Form 1095-A), that Form 8962 is REQUIRED with the tax return.

 

Why have you omitted it in a printed return? Will it be omitted in an e-file as well?


That is correct.  TurboTax has been updated to comply with the new "American Rescue  Plan" act.

 

Per IRS statement:

https://www.irs.gov/newsroom/irs-suspends-requirement-to-repay-excess-advance-payments-of-the-2020-premium-tax-credit-those-claiming-net-premium-tax-credit-must-file-form-8962

 

The Internal Revenue Service announced today that taxpayers with excess APTC for 2020 are not required to file Form 8962, Premium Tax Credit, or report an excess advance Premium Tax Credit repayment on their 2020 Form 1040 or Form 1040-SR, Schedule 2, Line 2, when they file.

Level 2
Apr 15, 2021 7:26:02 AM

Thanks, but I'm already aware of that. In fact this taxpayer would have owed $3 if not for that. My question still remains unanswered. My assumption is that even if the taxpayer owes $0 net premium tax credit, the REQUIREMENT that Form 8962 be filed does not go away. That requirement is based on the taxpayer having received Advance Premium Tax Credits during 2020, which they did. That is also how Intuit has described it on this site. IF that description no longer applies, it should be edited on this site, perhaps to say "however Form 8926 is not required to be filed if there is no additional Premium Tax Credit coming to the taxpayer in this tax return."

 

Since that has not been stated here (yet), I am asking now: "Is that the case?".

Level 2
Apr 15, 2021 7:31:22 AM

I've just partially answered my own question, by further reading the IRS link you gave. It states there:

 

"The Internal Revenue Service announced today that taxpayers with excess APTC for 2020 are not required to file Form 8962, Premium Tax Credit, or report an excess advance Premium Tax Credit repayment on their 2020 Form 1040 or Form 1040-SR, Schedule 2, Line 2, when they file."

 

That "not required to file Form 8962" description is not included in the Intuit article on this web site, so even though my question has now been answered (thank you), I recommend that Intuit include this new information in their article.