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Form 8962 not generating

My 24 yr old son single filer has had a healthcare plan through the marketplace since May 1, 2023. He has no 2023 wage income and a small amount of investment earnings. He received no subsidy for his healthcare coverage. He did receive a 1095a form, which I entered into Turbo Tax., but NO form 8962 form was generated. Is this correct?

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Accepted Solutions
Vanessa A
Employee Tax Expert

Form 8962 not generating

Yes, if he is not eligible for state insurance, then he would be eligible for the premium tax credit.

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3 Replies
Vanessa A
Employee Tax Expert

Form 8962 not generating

If his investment earnings are less than $13,850 and he did not receive a subsidy, he would have zero taxable income.  If he has zero taxable income, would not qualify for the premium tax credit because to claim the credit, you must not qualify for state medical insurance for those below poverty level.  

 

Since he did not receive the Advance Premium Tax Credit and does not qualify for the credit, a form 8962 would not be filed or need to be filed. 

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Form 8962 not generating

Thank you for the clarification.

If he has been determined for 2024 to NOT be eligible for state insurance, would he qualify for the 2023 premium credit then?

Vanessa A
Employee Tax Expert

Form 8962 not generating

Yes, if he is not eligible for state insurance, then he would be eligible for the premium tax credit.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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