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Screen 8885 - Health Coverage Tax Credit

Enter
X
 for each month the taxpayer and/or spouse qualify for the Health Coverage Tax Credit. If you mark the
All
 field, all 12 months are marked automatically.
Enter the amount of excess advance payments received for those months when the taxpayer or spouse doesn't qualify for the HCTC. The excess advance payments received report on Form 1099-H or Form 14095. This information calculates the repayment of excess Advanced Monthly Payments when not filing Form 8962.
Enter the amount of health insurance payments paid for the eligible months that the taxpayer / spouse indicate as qualifying for the Form 8885 Health Insurance Credit. The Health Coverage Tax Credit is equal to 72.5% of insurance payments.
To qualify, the taxpayer and/or spouse must be an eligible TAA, ATAA, RTAA, or PBGC payee or a qualified family member of the recipient, and covered by a qualified health insurance plan for which the premiums were paid directly to the health plan, including premiums paid to "U.S. Treasury - HCTC."
Enter the portion of the amount entered as Qualified health insurance payments paid from an Archer Medical Savings Account (MSA) or Health Savings Account (HSA). Enter the portion paid for the eligible months indicated. These amounts are subtracted from the health insurance paid with the net amount qualifying for the health insurance credit.
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