Printable blank Form 8885
Printable blank Form 8885
What is form 8885?
Form 8885 is the form that can be used to determine the amount of Health Coverage Tax Credit (HCTC) that’s available to you and to claim it. The HCTC is a federal program created to allow displaced workers to maintain health care coverage.
What I need form 8885 for?
This fillable form 8885 can be used:
- To express your desire to take the Health Coverage Tax Credit for certain months in the tax year. Don’t forget to check every month for meeting the requirements. Make sure you’re eligible for the HCTC at all, since it depends on a variety of conditions specified in the form itself;
- To calculate the amount of the HCTC that the IRS should reimburse you.
How to fill out form 8885?
You don’t have to download form 8885 or print it – just fill it out online. First of all, do not complete the form if you may be claimed as a dependent on someone else’s tax return this year. If that’s not the case, start from Part 1. The form has two parts:
- In the first part, you are asked to check the boxes for the months in the current tax year which you claim the HCTC. Make sure to read all of the conditions carefully and leave unsuitable boxes blank if those conditions were not true as of the first day of a corresponding month;
- In the second part, you need to declare the total amount you have paid to your health insurance provider and calculate the amount of HCTC you can receive. First, calculate the total amount qualifying for the HCTC receiving by following the instructions in the form. Multiply that amount by 0.725 to determine the overall HCTC amount.
Organizations that work with form 8885
- Taxpayers applying for the HCTC.
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