What is Form 8962?

If you received an advanced premium tax credit (APTC) through the Marketplace last year, you must file a Form 8962 with your federal income tax return in order to reconcile your estimated and actual income for the year, even if you estimated your income perfectly. You can get a blank Form 8962 from the IRS website, or, if you use tax preparation software, the form will be automatically generated for you. The instructions for Form 8962 will walk you through the steps to calculate the amount of tax credit that you were eligible for based on a final calculation of your actual income. If you received an APTC and don’t file Form 8962, you could be ineligible for Marketplace APTCs in the future. Marketplaces must give enrollees advance notice that they are at risk of losing their APTCs after one year of failing to reconcile.