If you are responsible to pay back any premium
tax credit, the program should address it after you input your 1095-A
(please see attached screenshot "pay back PTC" below for
example).
If you do not need to
pay anything back, you'll see either a screen with the remaining Premium Tax
Credit you will receive (see attached screenshot "get back more PTC"
below) OR you'll see a screen "Good news, your credit for your insurance
premiums was the right amount," in which case, you will not owe or receive
any additional credit. For more information, please see TurboTax
FAQ, What is Form 8962, Premium Tax Credit?
Revisit this section by opening your
return, then clicking Federal Taxes (Personal tab if in Home & Business or
Self-Employed version) > Health Insurance. Advance through the questions
(usually about 5 screens minimum), and you'll arrive at the screen that breaks
down your payment, additional credit, or informs you that you have claimed the
exact right amount.
Or, to be sure, you
may reference your tax form before you file by doing the following:
- From within your return, click My Account at
the top right
- Then, select Tools
- Once in the tool center, click on View Tax
Summary
- Then, at the top in the white bar you will see Back and Preview
my 1040 - select Preview my 1040
- Then you may scroll down to the line that addresses the Premium
Tax Credit.
Depending on which form you file, the line number may be different.
Please see screenshot "what form do I have" below to
determine which line applies to you below.
1040: Reference
line 46 to see amount you must pay back
Reference line 69 to see any amount you will receive as a credit
1040A: Reference
line 29 to see amount you must pay back
Reference line 45 to see any amount you will receive as a credit
1040EZ:
The Premium Tax Credit is not addressed on this form. If this is the form
you have in your program, you may need to revisit the Health Care section
to complete any additional information.
**If each line above is 0 or blank, you don't have to pay anything back,
nor will you receive anything additional.
