Open the taxpayer’s return in TaxWise. If the taxpayer had health insurance through the Marketplace, select Yes on the Main Info page. This will generate Form 8962 for Premium Tax Credit reconciliation.

Next, navigate to the 8962 Pg 1. If Form 8962 is not automatically included, click Add Form, search for 8962, and select it.

Select the box(es) that apply to your client’s residency status for the year on Form 8962, Page 1.

If the percentage calculated in the software is less than 100%, select Yes for Question 5 on Form 8962, Page 1.

Answer Question 9, which asks if anyone else is listed on the health insurance policy but not included on the tax return, and if a portion of the policy needs to be allocated to them.

Answer Question 10. This asks if the taxpayer was enrolled in the plan for all 12 months and if the premium was the same each month.

* If yes, select Yes.

* If no, select No.

Note: The 1095-A will list all monthly payments under the policy.

If Question 10 was Yes:

Since the taxpayer had coverage for all 12 months and the premium was the same each month, you will complete Line 11 as follows:

* Match the annual total for Column A & B from the 1095-A to the Columns A & B in the software.

* Match the annual total for the Column C from the 1095-A to the Column F in the software.

* Columns D & E are automatically calculated by the software.

If Question 10 was No:

Since the taxpayer did not have coverage for all 12 months or the premium varied each month, you will complete Line 12 as follows:

* Match Column A & B from the 1095-A to Columns A & B in the software.

* Match Column C from the 1095-A to Column F in the software.

* Columns D & E are automatically calculated by the software.