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NY Form Steps to Fill out Online 8962 IRS: What You Should Know
A36. Yes. For tax years other than 2023 you must file a Form 8962 and include one copy of it with an electronic or paper Form(s) 1040 for each year you received an APC for that tax year. A38. Yes. If you have APC for the past year, and for tax years other than 2023 you had APC greater or less than your adjusted gross income (AGI) for the year, you must file an advance payment of the premium tax credit in the year when you had the most APC. When you receive your PTC, you must then use that PTC on your tax return for that tax year. A39. Yes. For tax years other than 2019, you must file the Form 8962, and attach it to your financial and medical information return for that. Tax year. If you have an additional nonremittance for a premium tax credit during the tax year, follow the instructions on Form 1040 or 1040-EZ and attach a statement to your return or e-file your return to make sure that you have sufficient PTC and APC. A40. Yes. You must attach a copy of the report to accompany the return or your electronic file. If you don't. Attach the report, don't report any amount. A41. No. The PTC and the APC are not taxable income, as defined under Section 6063. You have a Section 63 relationship if you have a reasonable expectation that the trust or person. who is making the report will treat you as a qualified person unless they have an exemption, or as a Qualified person unless you have an exemption. However, if the trust or person making the report is required to file reports with other law enforcement agencies like the IRS, the FCA, or state financial transaction regulators; the PTC and APC would not be taxable income and would be treated as if the Trust or person were a non-Section 63 qualified person. You are a non-Section 63 qualified person if you have an exemption from the premium tax. And APC described in this paragraph. A42.
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