How to reconcile your premium tax credit

If you had a health plan through HealthCare.gov in 2020 and used advanced payments of the premium tax credit (APTC) to lower your monthly payment, you'll have to "reconcile" when you file your federal taxes. This means you'll compare two figures:

• The amount of premium tax credit you used in advance during the year; and
• The premium tax credit you actually qualify for based on your final income for the year.

Any difference between the two figures will affect your refund or tax owed. You should get your Form 1095-A in the mail by mid-February. It may be available in your account as soon as mid-January. If you don't get it, or it's incorrect, please contact Healthcare.gov.

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Follow these steps to reconcile:

• Get your Form 1095-A from HealthCare.gov
• Print Form 8962 (PDF) and instructions (PDF).
• Use the information from your 1095-A form to complete Part II of Form 8962, using the table below as a guide.

• Complete all sections of IRS Form 8962. On Line 26, you'll find out if you used more or less premium tax credit than you qualify for based on your final income. This will affect the amount of your refund or tax due.
• Include your completed IRS Form 8962 with your federal tax return.