My employer provides health insurance coverage for me and my family. I have two questions:
Federal: Because I get the benefit of health insurance, must I report this benefit on my federal tax return? If so, how?
California: Because I get the benefit of health insurance, must I report this benefit on my California tax return? If so, how?
Thanks!
You do not have to report the health insurance paid by your employer on your tax return- it is not taxable income and since the Obamacare penalty has been abandoned there is no reporting requirement.
California picked up the Obamacare requirement, so you will only have to indicate that you had health insurance in the state section of TurboTax.
You do not have to report the health insurance paid by your employer on your tax return- it is not taxable income and since the Obamacare penalty has been abandoned there is no reporting requirement.
California picked up the Obamacare requirement, so you will only have to indicate that you had health insurance in the state section of TurboTax.