If income excess 400% of FPL, then all of the APTC must be repaid. Depending on the household income percentage that is reported on line 5, that repayment may be limited. Note that line 28 applies a limit from a table in the IRS instructions. This section calculates the excess advance payment of the premium tax credit. This means the calculated PTC is greater than the APTC received. If the client received more APTC than the calculated (allowed) PTC, the difference is entered on line 26 and Form 1040, line 69. This section calculates the net premium tax credit (if any). Note: If more than one Form 1095-A was received for a single state, enter the amount from one for Line 11, Column B.
The information appearing in lines 11 (annual) or 12 through 23 (monthly), will be entered from Form 1095-A. If your client shared a policy with another taxpayer or was married during the year, please review the Table 3 and Table 4 questions in the IRS instructions to determine if additional calculations are needed. This is because 'Household income' includes the income from all members of the 'Tax Family' You may need to enter the clients dependent's income on line 2 before completing this form. Most of the lines in Part 1 are calculated automatically from other parts of the return and from the tables found in the Form 8962 instructions. For help entering the 1095-A, see Entering Form 1095-A, 1095-B or 1095-C health coverage in ProSeries.
