When does filing a schedule 2 apply for obamacare premium credit payback?

[JulieCo · Accepted solution]

Schedule 2 is a new form this year.  For 2018, the IRS completely revised the 1040 form.  They eliminated the 1040A and 1040EZ forms and made the 1040 form a half page sized form that now has up to six additional schedules that get attached to it (Schedules 1 - 6).  Therefore, anything that is reported on Schedules 1 to 6 used to be reported somewhere on the 1040 form. 

Schedule 2 is where amounts due for AMT(Alternative Minimum Tax) or for repayment of the ACA Healthcare Advance Premium Tax Credit are reported.  If you are required to make a repayment for an advance premium tax credit already received from a reduced health insurance premium amount purchased through the marketplace, then that premium credit repayment amount due is reported on Schedule 2. 

Here is a sample of the Schedule 2 form: Schedule 2