Have you come across the reject code F8962-070 when filing your taxes electronically? If so, it means that there is a statement missing concerning the health insurance marketplace. The IRS requires you to complete form 1095A for your information to match with those in their records.
Before you proceed with solving the reject code F8962-070 in your tax filing program, you must obtain the 1095A form. This can be obtained from the website of health care.
How do I Fix the Reject Code F8962-070 TurboTax Once the Form is Obtained?
Once you have got the form from the healthcare provider, you can begin on the steps to fix reject code F8962-070 TurboTax.
- Select Repair my tax return after you have logged into TurboTax.
- On the Fix, Your Tax Return and Then Resubmit screen,
- Select Fix Immediately.
- On the Let’s take a look at your tax return page, click Next
- You’ll return to the screen where you can resubmit your tax return by continuing.
- From here, select Federal from the left menu.
- From the top menu, select Deductions & Credits.
- Scroll down to Medical.
- Select Show or Read more
- Select the Start or Repeat Affordable Care Act (Form 1095A) button
- After answering the questions, enter the information from your Form 1095A.
- When you’re finished, select File from the left menu and proceed to re-file your tax return.
Can I Get the F8962 070 Reject Code if I am Not Covered by the Marketplace?
Yes, you can get rejected with the code F8962 070. There are two reasons why your return could be denied if you weren’t insured at all through the Marketplace in 2022.
A form could get stuck in your return, resulting in rejection code F8962-070.
If you have already tried to file your tax return electronically but were rejected with code F8962-070, you cannot answer No to the question Have you received a Form 1095A? If you select No, the application resets your selection to Yes. This is because Forms 1095A and 8962 are currently included in your tax return.
You may eliminate the 1095A form from your tax return if you don’t have a form and are certain you’ll not receive one. This also eliminates 8962 and allows you to change your answer to question 1095A from yes to no.
- Select Federal from the left menu, followed by Deductions & Credits.
- Go down to Medicine and select Add More
- The Affordable Care Act “Start or revisit” button is selected (Form 1095A)
- You’ll be asked if you received form 1095-A as you go through the questions. Select Yes even if you didn’t receive this form.
- Form 1095A requires the creation of a “dummy”: the identity of the marketplace, the policy number, and $1 for the January amounts should all be entered as 0.
- Click Delete next to the mock form you just filled out, then click Yes to delete the 1095A entry.
- From the left menu, select Tax Tools, then Tools, then Delete a form. Forms 8962 and 1095A shouldn’t appear in the forms list.
- Select Delete to remove them from your return, if you see these forms.
- To re-file your tax return, select File from the left menu and follow the next steps
Someone in your household should have a 1095A as per IRS information
Another reason to get the F8962-070 error code is that the IRS has information that someone in your household should have the form 1095A. This may be the case if a form is filed on your tax return or if you or a family member was covered in the Marketplace in a prior year.
You can create a Form 1095-A with just a little information to meet IRS’s electronic filing requirements to solve reject code F8962-070 if you have shown that no one on your tax return for the previous tax year received insurance through the Marketplace. However, the IRS will issue a CP2000 notice if there is a conflict with Marketplace records.
- Select Federal from the left menu, followed by Deductions & Credits.
- Select View More under Medicine by scrolling down.
- Select the Affordable Care Act’s Start or Revisit button (Form 1095A)
- You will be asked if you received a 1095A as you go through the questions. Select Yes even if you did not receive this form.
- The Marketplace identity, policy number, and $1 for January amounts should be entered as 0.
- Complete the questionnaire to the end.
- To resubmit your tax return, select File from the left menu and complete the next steps.
For taxpayers attempting to file their taxes correctly and on time, receiving an IRS F8962-070 rejection for failure to file a Form 1095A can be very upsetting. This fact underscores the importance of keeping accurate records of health insurance coverage and carefully reviewing tax forms for missing or inaccurate information.
Frequently Asked Questions
It means that the form 1095A which is related to the health insurance marketplace statement is missing.
You get this error when you are required to submit form 1095A with your returns, but it is missing.
You need to download Form 1095A and attach it with your returns.
Yes, you can fix the reject code in the TurboTax application.
Yes, you need to be covered to avoid the rejection code.
Yes, you can remove form 1095A. However, it will also remove form 8962.
When the information provided by the healthcare marketplace does not match the IRS records. They issue a CP2000 notice.
Yes, form 1095A is required by the IRS.
You can download the form from the healthcare.gov website.
