" How To Claim Premium Tax Credit ObamaCare Health Coverage ? "

Taxpayer may be eligible for Premium Tax Credit (PTC) if the Health Coverage was purchased through the Marketplace per the  Affordable Care Act.  The Tax Credit is based upon a sliding scale where lower income people get Larger Credit. The higher the income, lower the amount of Credit.

To Claim this credit:
1.  Fill out the Form 8962 to figure the amount of credit.
2. 1095-A Statement from the Market Place provides the data necessary to complete Form 8962.
3. Health Premium Credit is Refundable i.e. even if you owe no tax this Credit will be Refunded to you.  However, if you receive Advance Payment of this Credit, and the Credit Received is in Excess of PTC, the Credit difference will be recaptured and added to the Tax.

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