How is form 8962 generated with Turbotax for HCTC under the Reemployment Trade Adjustment Assistnace, not through Marketplace insurance purchase?

[geovonsimon13]

Health insurance purchased thourh health insurance market and will not receive a form as generated by purchase through Marketplace.  How will Form 8962 be generated in Turbotax?

[TaxGuyBill]

I'm not sure what your question is.

Marketplace insurance is no longer qualifying insurance for the HCTC.  If you had Marketplace insurance, you will not receive the HCTC credit.

If you had other insurance and qualify for the HCTC, the HCTC credit is calculated on Form 8885 (not 8962).

Does that answer your question?

[geovonsimon13]

Thank you for this correction regarding tax form.  So follow up is how is Form 8885 generated?  Is this a standard form in the Turbotax software?

[TaxGuyBill · Accepted solution]

Yes, Form 8885 for the HCTC is included in TurboTax.   The easiest way to find it is to type "8885" in the Search box of the program, and you can 'jump' to that part of the program.

[s-browning]

Do you only use PTC for Marketplace Healthcare deduction and use only Form 8962?

[MaryK4]

Yes Form 8962 to

• Figure the amount of your premium tax credit (PTC).
• Reconcile it with any advance payments of the premium tax credit (APTC).

@s-browning