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For purposes of the PTC, modified AGI is the AGI on your tax return plus certain income that is not subject to tax (foreign earned income, tax-exempt interest, and the portion of social security benefits that is not taxable). Use Worksheet 1-1 and Worksheet 1-2 in the Form 8962 instructions to determine your modified AGI.
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Figure A. Can You Take the PTC? Figure A. Can You Take the...
- PTC
Publication 974 covers the following general topics: What is...
- IRS.gov Form8857
About Publication 556, Examination of Returns, Appeal...
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13 wrz 2024 · Publication 974 covers the following general topics: What is the premium tax credit (PTC)? Who must file Form 8962. Who can take the PTC. Additional information to help you determine if your health care coverage is minimum essential coverage.
Calculations in worksheets for Publication 974, Premium Tax Credit. The tax application includes 4 worksheets based on Publication 974, Premium Tax Credit, for taxpayers who take a self-employed health insurance deduction for health care premiums that qualify for the Premium Tax Credit (PTC).
11 mar 2024 · After completing Worksheets W and X in IRS Pub. 974, use the Simplified Calculation Method to compute your self-employed health insurance deduction and PTC.
This publication is designed for individuals and families who: Enrolled in a qualified health plan through the Marketplace in 2023. Received advanced payments of the PTC (APTC) throughout the year to help pay their monthly premiums.
To determine the MAGI, see "Worksheet X. Figuring Household Income and the Limitation on Additional Tax" in Publication 974. If the taxpayer's family size or household income changes, the taxpayer should notify the Marketplace to update the information used to determine the expected amount of the credit and adjust the advance payment amount.
Determine the taxpayer's alternative monthly contribution amount by completing Worksheet I Lines 1 through 7 in Publication 974.
