Solved: How does having Medicaid insurance impact my tax return? Do I have to report anything on my 1040? I've got a simple return, standard deduction only. Thanks for any info
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spmcgrath
New Member

How does having Medicaid insurance impact my tax return? Do I have to report anything on my 1040? I've got a simple return, standard deduction only. Thanks for any info

 
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SherekaB
New Member

How does having Medicaid insurance impact my tax return? Do I have to report anything on my 1040? I've got a simple return, standard deduction only. Thanks for any info

In the health insurance section under the Federal Taxes you need to answer the questions so that you are not penalized. If covered all year simply answer yes and you are done. Let me know if you need more help.

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SherekaB
New Member

How does having Medicaid insurance impact my tax return? Do I have to report anything on my 1040? I've got a simple return, standard deduction only. Thanks for any info

In the health insurance section under the Federal Taxes you need to answer the questions so that you are not penalized. If covered all year simply answer yes and you are done. Let me know if you need more help.

View solution in original post

stegaski11
New Member

How does having Medicaid insurance impact my tax return? Do I have to report anything on my 1040? I've got a simple return, standard deduction only. Thanks for any info

They asked if it would impact their return over regular health insurance, ie, what is the difference between having regular health insurance and having health insurance paid by the government? Do you have to reimburse the government with your taxes for using Medicaid?
xmasbaby0
Level 15

How does having Medicaid insurance impact my tax return? Do I have to report anything on my 1040? I've got a simple return, standard deduction only. Thanks for any info

No you do not reimburse the government with your tax return for having Medicaid.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
allisonm73
New Member

How does having Medicaid insurance impact my tax return? Do I have to report anything on my 1040? I've got a simple return, standard deduction only. Thanks for any info

What if you had Medicaid through Sept 1st then it was cancelled?

SusanY1
Employee Tax Expert

How does having Medicaid insurance impact my tax return? Do I have to report anything on my 1040? I've got a simple return, standard deduction only. Thanks for any info

On your federal return, this has no impact in 2019.  You would only need to make a report on your federal return if you had Marketplace insurance and a Form 1095-A.

 

In some states, there is still a requirement to report health insurance coverage. If your state is one of these, you will be asked these questions in the state interview section of TurboTax. 

 

@allisonm73

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Chocolatechip7864
New Member

How does having Medicaid insurance impact my tax return? Do I have to report anything on my 1040? I've got a simple return, standard deduction only. Thanks for any info

Do you have to show proof

Chocolatechip7864
New Member

How does having Medicaid insurance impact my tax return? Do I have to report anything on my 1040? I've got a simple return, standard deduction only. Thanks for any info

Do you have to have proof of medicaid

CatinaT1
Employee Tax Expert

How does having Medicaid insurance impact my tax return? Do I have to report anything on my 1040? I've got a simple return, standard deduction only. Thanks for any info

No, there is no longer a health insurance mandate.

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achu
New Member

How does having Medicaid insurance impact my tax return? Do I have to report anything on my 1040? I've got a simple return, standard deduction only. Thanks for any info

thank you

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