Entering Form 1095-A: Insurance from Marketplace
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These are the steps on how to enter Form 1095-A
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A. How to add Form 8962: Premium Tax Credit
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- Go to 'Main Information Sheet' and check under 'Taxpayer Information.'
- For the question, 'Did the taxpayer, spouse, or any dependent receive insurance through the Marketplace?' click 'Yes.' You'll then see Form 8962 show up--then click it.
B. How to Fill-up Form 8962
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- Under 'Part I 2b', to clear out the cell, click Ctrl+Space. You will do this if the dependents don't have an income yet.
2. For ‘Part II #9,'' Refer to Form 1095-A. If the insurance holder is just the taxpayer or a family group insurance, this is a No. Otherwise, Yes.
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- For Part II #10c, Refer to Form 1095-A. If the taxpayer/insurance holder has paid all 12 months, it's a Yes. Proceed to enter Annual Calculations in Part II #11. If not, click No and fill in all amounts under the Monthly Calculation column. You need to individually enter the monthly payments from Form 1095-A to Form 8962 in the software. After entering all the information, do a quick review to ensure it is correct.
A scenario wherein the insurance holder paid the whole year.
The highlighted columns are where you will input the payments if the insurance holder did not pay for the whole year.