Advance Payments of Obamacare Health Insurance

If you have received the health insurance subsidy, then you have to reconcile that amount with what you are eligible for using form 8962 based on your actual income for the year. The amount of your advance is shown on form 1095-A on a monthly basis and needs to be provided to your tax preparer.  You have to pay back any excess premium credit received or you may be due an additional credit. You will get a notice from the IRS if this calculation on form 8962 is not attached to your tax return.