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Form Steps to Fill out Online 8962 IRS Illinois Cook: What You Should Know
Instructions for Form 8962 — IRS Using Form. 8962 to determine if you have more than one eligible person You must file Form. 8962 for each eligible person other than yourself, each person you are paying under a qualified long-term care insurance contract, each person who is receiving medical care (other than emergency services) that you are paying under a qualified long-term care insurance contract and each person who you are paying under a qualified long-term care insurance contract to be eligible for the premium tax credit (PTC). You can receive more than one premium tax credit for an eligible person; the PTC can be applied to all of these eligible people. However, for each person you are paying under a qualified long-term care insurance contract, you can only use the PTC to apply a percentage of the premium tax credit to each qualified long-term care insurance contract to be paid. If you are only paying an amount to an eligible person, you can use the PTC to apply the full amount to each person to whom you are paying for coverage in the same amount (up to 2,000 or 2 percent of the total cost of the coverage, whichever is less). If you are paying someone under a qualified long-term care insurance contract for long-term care, you must pay only 10 percent of the amount you want to apply to the person to whom you are paying a qualified long-term care insurance contract for long-term care. Payments to an eligible person will be made on a monthly basis. If you do not pay the payments on a monthly basis, you may elect to make monthly payments to an eligible person until the entire amount of the premium tax credit is paid to the person to whom you are paying. The amount of your monthly payments for an eligible person you are paying must be less than or equal to 150. You cannot have more than one eligible person that is your employer or covered spouse under a qualified job-based health plan who is also enrolled in a qualified long-term care insurance plan. You may also designate the same eligible person to whom you are paying as an eligible dependent for the PTC or the APC. Taxable Premium Tax Credit Payments 2023 Instructions for Form 8962 — IRS Using Form.
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