From 1095s to PTCs, We’ve Got You Covered This Tax Season

February 18, 2016 : H&R Block

Editor’s Note: Filing a tax return is a bit different this year… For the first time taxpayers are required to to include information about health insurance coverage on their taxes. So, do you feel like you need help with Affordable Care Act tax forms? Listen up!

Whether you received a 1095 form (these forms will be new to a majority of taxpayers), or you qualified for an exemption that allows you to not have health insurance, or you are somewhere in between, we can tell you exactly how to file.

Our tax professionals will help you navigate the Affordable Care Act requirements and the impact to your tax return. This includes helping you understand your 1095 form, explaining penalties, finding possible exemptions, reconciling the Advance Premium Tax Credit and enrolling in a health insurance plan (deadlines do apply however).

For more information on any of these topics, click on the related links below or make an appointment to meet with your H&R Block tax professional:

  • Form 1095: This form reports information about your health insurance coverage over the last year. There are three different versions, depending on what type of coverage you had: A, B and C. Learn more about 1095s.
  • Premium Tax Credit: If you received a subsidy to help pay for your health insurance, you’ll have to reconcile what you got with what you actually qualified for, based on your income in 2015. Learn more about the PTC.
  • Exemptions: Claiming an exemption allows you to forego having health insurance for reasons such as too little income, being incarcerated or other hardships. If you got an exemption, you’ll have to complete a special form on your taxes. Learn more about Marketplace exemptions.

For information on these and many other topics on health care and taxes, visit our ACA section on the blog.

Taxes are complicated. We’ll make sure you’ve got it right. Hopefully this post offered more help with the Affordable Care Act and your taxes. For more information on this topic, head to H&R Block “Get Answers“.

Related Topics

Related Resources

Estimated Tax Form 1040ES

Do you need to file estimated taxes each quarter? Learn more about quarterly tax payments and get tax answers at H&R Block.

Where can I find AGI on W-2 Forms?

Can you find AGI on W2 forms? Learn more from the tax experts at H&R Block.

I have a question regarding taxes qualified dividends. After I filed my return, I received a revised Form 1099-DIV that

Did you receive Form 1099-DIV after filing your taxes? Qualified dividends may affect your return. Learn more from the tax experts at H&R Block.

We didn’t give a W-2 or a 1099 to our babysitters who work in our home. Are we required to do so?

Does your babysitter or nanny need a W-2 or 1099. Discover which option is right for your household. Get tax answers at H&R Block.

H&R Block

H&R Block