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Level 3
posted Apr 14, 2024 6:52:04 PM

Where do you enter ACA information?

I bought insurance through Covered California, and indicated this while preparing my return in TurboTax. But there is no place to enter insurance-cost and subsidy information. Why? If my income turned out to be higher than that allowed for a given subsidy level, I'm going to owe money.

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4 Replies
Expert Alumni
Apr 14, 2024 6:56:00 PM

You may have to repay some of your advance tax credits if your household income turns out to be more than estimated.   TurboTax will automatically generate Form 8962 when you enter your 1095-A.   It is entered in the federal medical interview.   You should receive a Form 1095-A by mid-February if you purchased health insurance through Healthcare.gov or your state's health insurance marketplace.   You need to enter the information from 1095-A into TurboTax, as you won't be able to file Form 8962 and accurately report the Premium Tax Credit without it.

 

For more information, see What is the Premium Tax Credit (PTC) and What is Tax Form 8962?

 

Here's how to enter your 1095-A in TurboTax:

 

  1. Open or continue your return
  2. Select Search and enter 1095-a
  3. Select Jump to 1095-a
  4. Answer Yes and enter your 1095-A info on the next screen
    • We don't need all the info from your 1095-A. We'll only ask about the info that affects your return.

Level 3
Apr 14, 2024 7:31:31 PM

Thanks, but that does not explain why TurboTax skipped all of this. I did the step-by-step walk-through of the entire return. At the beginning of the "medical" section, it says:

 

What if I got insurance through Healthcare.gov or a state Marketplace?

If you signed up for a health insurance plan through Healthcare.gov or your state Marketplace or exchange, do not enter the premium amounts you paid in this section. We'll get the details on those plan premiums in the Health Insurance section.

 

Except... there is no such section. Look at the entire list of sections on the Deductions & Credits page. There's only Medical. The medical section subheading says, "HSA, MSA contributions, prescriptions, medical bills." I had none of those, so of course I selected no for medical expenses.

 

Proceeding through the return, there was no "health insurance" section or questions. This is a major defect that sets users up to have their returns rejected and, I would imagine, penalties for not paying back subsidies in a timely manner.

Expert Alumni
Apr 14, 2024 7:36:50 PM

That is a message you get when going through the Schedule C business expenses interview.   If you try to enter health insurance premiums there, you are redirected.    The 1095-A comes up in the Deductions and Credits section when going through TurboTax.   

 

Level 3
Apr 14, 2024 8:09:13 PM

"That is a message you get when going through the Schedule C business expenses interview."

 

No, it is not. I never went through that. Screen grab: https://www.youtube.com/shorts/eUvODGInIhw

 

And when you are going through the whole return step-by-step, you don't see what you highlighted below. And... there's still no "Health Insurance" section.