Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted May 31, 2019 8:21:11 PM

Is form 8962 needed for everyone in 2016

Is form 8962 mandatory for everyone in 2016

0 1 311
1 Best answer
Level 3
May 31, 2019 8:21:13 PM

This form is only for taxpayers who are claiming the premium tax credit.  The premium tax credit occurs when your insurance company (the Marketplace) receives a payment on your behalf to cover your monthly premiums. 

If it's been paid on your behalf, Form 8962 is a reconciliation of what was paid and what it actually cost

Not everyone has to file Form 8962; only those taxpayers who are insured by the Marketplace have to worry about the form.  


1 Replies
Level 3
May 31, 2019 8:21:13 PM

This form is only for taxpayers who are claiming the premium tax credit.  The premium tax credit occurs when your insurance company (the Marketplace) receives a payment on your behalf to cover your monthly premiums. 

If it's been paid on your behalf, Form 8962 is a reconciliation of what was paid and what it actually cost

Not everyone has to file Form 8962; only those taxpayers who are insured by the Marketplace have to worry about the form.