Tax Year Prior to 2020: Can turbo tax complete a form 8962 for me?

[dellbean41]

‎July 5, 2020 7:32 AM

 

Here is how to get the form 8962 filled out. Please note: You are NOT going to amend your return and you are NOT going to add a state return. These directions are quirky but will get the job done.

1.  Log into your return
2. Select that you want to add a state - this lets you into the program without the amend process starting.
3. In the top right corner, locate the Magnifying glass/search  
4. enter the exact words 1095a
5. Select the first entry Jump to 1095a
6. Fill in the 1095a information
7. Print and mail the 8962

The IRS may adjust your refund once they receive your form 8962. 

[dellbean41]

Here is how to get the form 8962 filled out. Please note: You are NOT going to amend your return and you are NOT going to add a state return. These directions are quirky but will get the job done.

1.  Log into your return
2. Select that you want to add a state - this lets you into the program without the amend process starting.
3. In the top right corner, locate the Magnifying glass/search  
4. enter the exact words 1095a
5. Select the first entry Jump to 1095a
6. Fill in the 1095a information
7. Print and mail the 8962

The IRS may adjust your refund once they receive your form 8962. 

[sdjmstm]

1. My+spouse original 1040 was missing 8962 too... and also 2x 1040s for two adult daughters

2. IRS sent us 3x 12Cs: Me+Spouse, and both my daughters.

3. Faxed all three 12C's + 8962's (downloaded from the IRS.GOV website) + Pg2 of 1040s since 8962 changed  tax owed (sharing with other tax payers) (note to self, this is a triple problem)

4. Still waiting for refunds for me, and both daughters.

5. Meanwhile - doing 1040X just for me+spouse - other unrelated changes needed.

6. Online would not allow 8962 to be included in 1040X.

7. TTAX called me, converted to the desktop version (TTAX).

8. Desktop: I can see the 8962  (I obviously need this now since it is part of my original return).

9. 1040X Desktop - ready to transmit to IRS, but final check of .pdf shows 8962 missing.

10. PROBLEM - how to FIX?  Most likely need to print 8962 & mail everything to IRS.

11. Will contact support for item 10 - why doesn't TTAX fix the "phantom" 8962 problem?

-- this has been a nightmare year from a tax code change perspective, but frankly the issue makes me less confident about TTAX in general after using for 25 years --

[sdjmstm]

IR-2021-84, April 9, 2021 - We no longer need to repay any of the EXCESS APTC.

According to:

IRS suspends requirement to repay excess advance payments of the 2020 Premium Tax Credit; those claiming net Premium Tax Credit must file Form 8962

[Jlee151]

Do I still need to mail/fax the actual 8962 form?

[MinhT1]

@Jlee151

Form 8962 is used to calculate the advance premium tax credit and to reconcile it with the advance premium already received.

In TurboTax, you do not fill form 8962 yourself. The form is automatically populated by TurboTax and included in your tax return after you have entered your form 1095-A. If you e-file your return, it is included in your tax return and you do not need to send it to the IRS separately.

[Jlee151]

Thank you!

[Connerll99]

will the completion of form 8962 be included under the basic free tax prep? All else is very simple

And will this include efile?

[ZoltanB45]

The free edition does not support the premium tax credit.

Your tax return was rejected because of the missing 1095-A form.  If you do not have the form, you can download it from healthcare.gov. Once you have it, then

1. Sign in to TurboTax and select Fix my return.
2. On the Let's fix your returns and then refile screen, select Fix it now.
3. Select Continue on the Let's take a look at your return screen.
4. You’ll get taken back to the Keep going to refile your returns screen. From here, select Federal from the left menu.
5. Select Deductions & Credits from the top menu and scroll down to Medical. Select Show more.
6. Select Start or Revisit next to Affordable Care Act (Form 1095-A).
7. Answer the questions and continue through to enter the details from your Form 1095-A.
8. When you’re done, select File from the left menu and continue through to re-file your return.

[hereiam101]

I have been trying to create the output for 8962 using my parents 1095A information, because the IRS always contacts me to attach it and send a 8962. For context I am an adult child that is not a dependent, but is on my parent's insurance. 

The only way I can convince the turbo tax site to let me claim 0% credit (which is what we agreed with the policy holder since I don't pay for it)  is by adding myself as a shared policy person and filling out zeros for credit and 1 for the policy amounts. Then adding each of the other people on the policy separately, also claiming 0, except for, for the policy holder. When I do with the same policy number and give 100% credit to my dad's ssn, everything checks out and says 0 is owed to me on the next screen. However, when I get to the end, it registers an error as there appear to be multiple duplicates of the policy.

So I was told to make the policy for the second user 0(x15) and consequently the next 0(x14)with a 1 following, etc. When this happens it allows me to file, but now I owe a dollar ( no big deal it's registering weirdly), the larger issue is the 8962output of the form then changes all of the policy amounts for my form to 1 since they can't be left blank, which is not an accurate number for the policy premiums. I have spoken to multiple agents and no one can figure it out. Kind of seems like a big site flaw. Appreciate help if there's a real solution to this. 

[Cynthiad66]

@hereiam101hereiam101 - TurboTax has procedures for your situation.  See instructions below.

Try this

In this case, TurboTax will ask you to enter a 1095-A. You'll enter the info from your parents' 1095-A. The next screen will ask you about your health plan being shared, so check the box.

Then you'll see a screen asking for shared policy info. You enter the following:

• Enter the social security number in box 5 (recipient's SSN) on your parents' 1095-A
• Enter the starting month and ending month that you had the insurance

Now you'll be asked to enter percentages for Your Premium, Second lowest cost silver plan (SLCSP) and advanced payment.

You should see amounts on your parents’ 1095-A, column A, B, and C. You and your parents should agree on what percentage of those amounts you’ll claim on your return, and what percentage they’ll claim on theirs. You can use anything from 0-100%, as long it all adds up to 100%.

Example: Darcy is working and isn't on their parents' tax return. They're on their Marketplace health plan and listed on their 1095-A. Darcy didn't receive a 1095-A in their name.

Darcy's parents have to figure out how much of column A (monthly enrollment premiums), column B (monthly SLCSP), and column C (advanced payments) on the 1095-A will go on their return and how much will go on Darcy's return. It was decided that Darcy will enter 10% of those amounts on their return, and Darcy's parents will enter 90% on their return. They could have decided to have 100% on the parents' return and 0% on Darcy's return.

[hereiam101]

This doesn’t work, because when you select I share this policy with someone else it asks for their SNN, but after their is no place to indicate their percentage only for 

yours. If I make it 100% it makes it my credit and changes my refund. 

I have gone through various versions with both a customer support person and a tax expert. Neither were able to help. 

[MarilynG1]

You can only choose the % of the premium YOU want to claim on YOUR return.   The other policyholder claims the balance of the % on THEIR return. 

If each policyholder files their own return, they need to agree on what % they each are going to claim on their returns (for a total of 100%). 

If you enter 50% on your return, for example, the IRS will expect to see that the other policyholder claimed the other 50% on their return.

Click this link for more info on Allocating 1095-A Premiums.

[hereiam101]

the way your explaining is the way I did it last year. The issue is the output for 8962 then does not fill in part 1 of 8962 and the IRS sent me a letter stating they needed to know the percentage for the other SSN and for the top portion of the form to be filled out. 

im trying to avoid this happening again. I have viewed my documents at the end with this suggestion and part 1 does not fill out when following that guideline. 

[MarilynG1]

Part I on Form 8962 does NOT ask about the other policyholder.  I entered a shared1095-A and created a Form 8962 (screenshot), so am confused about what you say was in your IRS letter. 

Form 1095-A, Part I asks for 'Recipient Information' (that would be your info, if you received a 1095-A).

The TurboTax interview DOES ask for the SSN of the other policyholder, but this does not populate on Form 8962. 

You should call the IRS number on your letter.  You could give them the info about the other policyholder by phone, since it is not shown on Form 8962. 

Possibly the IRS wants to check the return associated with the other SSN.  If you can give more details, we'll try to help you.

[hereiam101]

So that’s the issue, it’s not filling out part 1 at all following your suggested steps. This is a screen shot of when I view my files right now: pre submitting but in prep to file 

they do not let you just give them this information over the phone. I’ve done it two years in a row and they do each time want me to list the primary holders Ssn and percentage in section IV and fax it in because turbo tax doesn’t fill it out right.