Form 8962 Reconciliation Calculator 2026 β ACA Premium Tax Credit
Reconcile your 2026 Advance Premium Tax Credit (APTC) on Form 8962. Calculate excess repayment with caps, additional credit owed, and see how income changes affect your PTC repayment.
$
Your actual Modified Adjusted Gross Income for the year Everyone covered by the marketplace plan
$
Total advance payments made to insurer (from Form 1095-A, Box 33C Γ 12) $
Second-Lowest Cost Silver Plan annual premium (from Form 1095-A, Column B Γ 12) Examples:
$0
Net Reconciliation
$0
Actual PTC You're Entitled To
0%
Income as % of FPL
$0
Repayment Cap (if excess)
Form 8962 Step-by-Step Calculation
| Step | Amount |
|---|
How Form 8962 Reconciliation Works
At tax time, you compare the actual Premium Tax Credit you qualify for (based on real income) with the Advance PTC paid to your insurer. The difference is either repaid or refunded.
2026 Repayment Caps (if you owe excess APTC)
Under 200% FPL: $375 single / $750 family
200%β300% FPL: $975 / $1,950
300%β400% FPL: $1,625 / $3,250
Above 400% FPL: NO CAP β full repayment required
FPL base (2026 tax year uses 2025 FPL): $15,650 + $5,580 Γ (size β 1)
200%β300% FPL: $975 / $1,950
300%β400% FPL: $1,625 / $3,250
Above 400% FPL: NO CAP β full repayment required
FPL base (2026 tax year uses 2025 FPL): $15,650 + $5,580 Γ (size β 1)
Example: Single, $45,000 MAGI, APTC $6,000, SLCSP $8,400/year
FPL (single): $15,650 | Income % FPL: 287%
Contribution rate at 287% FPL: ~8.27%
Expected contribution: $45,000 Γ 8.27% = $3,722
Actual PTC: $8,400 β $3,722 = $4,678
APTC received: $6,000
Excess APTC: $6,000 β $4,678 = $1,322
Repayment cap (200β300% FPL): $975
Amount to repay on Form 8962: $975 (capped)
Contribution rate at 287% FPL: ~8.27%
Expected contribution: $45,000 Γ 8.27% = $3,722
Actual PTC: $8,400 β $3,722 = $4,678
APTC received: $6,000
Excess APTC: $6,000 β $4,678 = $1,322
Repayment cap (200β300% FPL): $975
Amount to repay on Form 8962: $975 (capped)
Extended
Income Change Scenarios β What If Your AGI Changed?
See repayment or additional credit at +$5K, +$10K, +$20K income scenarios
Income Change Scenarios
What happens to your reconciliation if your AGI had been different? Based on APTC of $0 and SLCSP of $0.
| Income Scenario | % of FPL | Actual PTC | vs APTC | Cap | Net Owe / Receive |
|---|
Frequently Asked Questions
What is Form 8962 and who needs to file it?
Form 8962 is the IRS form used to reconcile the Premium Tax Credit (PTC) for ACA marketplace health insurance. You must file Form 8962 if you or a family member enrolled in a marketplace plan and received Advance Premium Tax Credit (APTC) payments (subsidies paid directly to the insurer), OR if you want to claim the PTC for the first time. The form calculates your actual PTC based on real annual income and compares it to what was paid in advance, determining if you owe money back or get additional credit.
What happens if my income was higher than I estimated on my marketplace application?
If your actual MAGI is higher than what you reported when enrolling, you received too much APTC, and you must repay the excess. However, 2026 repayment caps limit how much you owe: under 200% FPL: $375 single / $750 family; 200%β300% FPL: $975 / $1,950; 300%β400% FPL: $1,625 / $3,250. Above 400% FPL: NO CAP β you must repay the full excess APTC. Reporting income changes during the year to the marketplace helps avoid large year-end repayments.
What is the Second-Lowest Cost Silver Plan (SLCSP)?
The SLCSP is the benchmark plan used to calculate your Premium Tax Credit. It is the second-least expensive Silver plan available to you in your area. Your actual PTC equals your SLCSP annual premium minus your expected contribution (income Γ contribution rate). You do not have to enroll in the SLCSP to use it as the benchmark. Your insurer or marketplace will provide your SLCSP premium on Form 1095-A.
Can I get additional Premium Tax Credit if my income was lower than estimated?
Yes. If your actual income was lower than estimated, you received less APTC than you were entitled to, and the additional credit is claimed as a refundable credit on your tax return β increasing your refund or reducing what you owe. Unlike the repayment situation, there is no cap on receiving additional credit. The full difference between your actual PTC and the APTC you received flows to your return as a refundable amount.
What is the Federal Poverty Level (FPL) used for Form 8962 in 2026?
For Form 8962, the FPL used is from the prior year (2025 FPL guidelines), as required by IRS rules β your 2026 tax return uses the 2025 FPL to determine your credit. For 2025, the FPL for a single person in the 48 contiguous states is approximately $15,650 ($19,550 Alaska, $18,000 Hawaii). Each additional household member adds approximately $5,580. Your income as a percentage of FPL determines both your eligibility and your expected contribution percentage.