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Reporting Health Insurance Coverage on IRS Tax Forms

The majority of taxpayers have health insurance coverage for all of 2015 and simply check a box on their tax return. For those who don’t, the IRS shared the below hints on reporting your health insurance related information:

Form 8965, Health Coverage Exemptions

  • Complete this form if you need to claim an insurance coverage exemption on your return or report a Marketplace-granted coverage exemption.
  • Use the worksheet in the Form 8965 Instructions if you need to calculate the shared responsibility payment.

Form 8962, Premium Tax Credit

  • Complete this form to claim this credit on your tax return, and to reconcile advance payments of the premium tax credit.

Form 1095, Health Care information Forms

  • If you enrolled in coverage through the Health Insurance Marketplace, you should receive Form 1095-A, Health Insurance Marketplace Statement, which will help complete Form 8962. Wait to file until you receive this form.
  • Your health coverage provider or your employer may furnish you with a Form 1095-B, Health Coverage, or Form 1095-C, Employer-Provided Health Insurance Offer and Coverage. You do not have to wait to receive these forms before your file your tax return.
  • See the IRS questions and answers for more information about how these forms affect your tax return.

Form 1040

  • Line 46: Enter advance payments of the premium tax credit that must be repaid.
  • Line 61: Report health coverage or enter individual shared responsibility payment.
  • Line 69: Report net premium tax credit if the allowed premium tax credit is more than advance credit payments paid on your behalf.

Form 1040-A

  • Line 29: Enter advance payments of the premium tax credit that must be repaid.
  • Line 38: Report health coverage or enter individual shared responsibility payment.
  • Line 45: Report net premium tax credit if the allowed premium tax credit is more than advance credit payments paid on your behalf.

Form 1040-EZ

  • Line 11: Report health coverage or enter individual shared responsibility payment.
  • Form 1040EZ cannot be used to report advance payments or to claim the premium tax credit.

For more information about the Affordable Care Act and filing your 2015 income tax return, visit IRS.gov/aca. Visit IRS.gov for more information on this topic if you file Form 1040-NR or 1040-NR-EZ.

By Melinda Nelson, CPA