There is no statement but depending on whether the penalty was because you did not have insurance at any point in the year or because your income was over the amount for the Premium Tax Credit, there are IRS forms with the information.
Line 61, 1040 show the Individual responsibility payment and the breakdown is on Form 8965.
Line 46, 1040 shows excess advance Premium Tax Credit repayment and the breakdown is on Form 8962.
Form
8965 is generated when you answer certain questions in the Health Insurance
section. We'll automatically fill it out (including the exemption code) if
anybody on your return didn't have health insurance coverage for the entire
year.
Here's
how to get to the form in TurboTax:
- Open (continue) your return
if you don't already have it open.
- Select the Take me to
my return
button.
- Search for 8965 and then select the
"Jump to" link in the search results.
- At the question Did you
have health insurance coverage in 2017? select the second or third option and select Continue.
- When you get to Did you
have a situation that waives the tax penalty for being uninsured? check the box (or boxes)
that apply, then select Continue.
- If you have an ECN or are
applying for one, make sure you check Got an exemption certificate
number.
- Keep following the onscreen
instructions. At some point, we'll display the penalty and exemption code
or codes.
If you see the message You are
exempt from the tax penalty or The penalty has been waived, you won't be penalized. In
this case, Line 14 of your 8965 (shared responsibility payment) will be
blank.
The
Premium Tax Credit (PTC) is a tax credit to help make health coverage more
affordable when you purchase health insurance from Healthcare.gov or a state
Marketplace.
You
qualify for the credit if:
- Your health insurance plan is
purchased through Healthcare.gov or a state Marketplace.
- Your household income falls
between 100% and 400% of the federal poverty level for your household
size.
- You don't file as Married
Filing Separately (with exceptions for victims of domestic abuse and
spousal abandonment).
- You can't be claimed as a
dependent by another person.
If
you qualify, you can either take your tax credit as a monthly subsidy to help
pay for your insurance costs, or claim the entire credit when you file your tax
return.
Regardless
of which choice you made, when you enter the information from your 1095-A,
we’ll calculate your Premium Tax Credit and prepare Form 8962 for you to file
with your tax return.
