I have 1095-A Health Ins. Marketplace Statement. Do I need to file form 8962 if column 'C' Prem. Tax Credit is 0? And how do I deduct payments for med coverage? Thanks

Both me and my wife pay for our Health Insurance (not covered by employer). Can we deduct this and how? What form do I need and where should I include this amount in my Tax Forms? Thanks 

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One more thing. We have coverage for 2017 starting in March. No coverage for Jan and Feb.
TeresaM
Expert Alumni

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If you have received a 1095-A Form, then you should enter the details as the IRS will want to match that with the information they receive about the policy.

Here’s how to enter 1095-A Health Insurance Marketplace Statement in TurboTax:

·         Select the Health Insurance section of TurboTax, at the top

·         When asked if you had health insurance in 2017, select the option that applies to you, and Continue

·         When asked about being enrolled in any of these less common plans in 2017, select Yes

·         On the What type of plan were you enrolled in? screen, select Obamacare or state Marketplace (1095-A) and then Continue

·         Follow the prompts to enter your 1095-A 

Note: If you have any fields on your 1095-A with 0, please leave those blank in TurboTax.  If most of the lines across are the same, you can use the blue copy previous month button to enter it again.

In general, a gap in coverage that lasts less than three months qualifies as a short coverage gap and as long as there are not multiple gaps, the penalty is exempted. If you are covered for any days in a month, it counts as a covered month. Questions number 6 and number 22 have more information on short gaps, in the IRS questions and answers below. 

click here for more IRS information on exemptions

When you input the amounts from your 1095-A into the Health Insurance section, it will automatically transfer any amounts for premiums you have paid into the medical deductions section of Schedule A, if you itemize.  It will not show in the input screens there but will show in the total.

If you print a pdf copy of your return, from the Print Center, you will see the entry on the Medical Expenses Worksheet. When you use Print Center, it will give you an option to print Just my tax return or Include all worksheets. You can select just the return for your filing copy but I recommend to download the pdf of all worksheets, to have as a copy.

If your return is still active, you can click on Tax Tools on the left, and then Print Center.


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lr58
New Member

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where do I input the amount I paid to insurance company each month.  I have a 1095A form and already input information from it.

 

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Column C. This column is the monthly amount of advance credit payments that were made to your insurance company on your behalf to pay for all or part of the premiums for your coverage.

See HERE

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