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Irs form 1095 c employer provided health insurance offer and coverage is a document your employer may have sent you this tax season or will be sending you soon in addition to your w 2 wage.
Do you need an insurance form to do your taxes 2018. However the forms are important. If you are buying your own insurance and qualify for such a credit filling out the 1095 a form lets the government know to send you one. You must report information about your 2018 health coverage when you file. Tax credits the affordable care act provides subsidies to help people with low incomes pay for their health insurance which are distributed in the form of tax credits.
If you had marketplace health insurance in 2018 check out these 3 tips. Keep an eye out for form 1095 a. Beginning in tax year 2019 form 1040 will not have the full year health care coverage or exempt box and form 8965 health coverage exemptions will no longer be used. Once you have an accurate 1095 a and second lowest cost silver plan premium you re ready to fill out form 8962 premium tax credit and reconcile you ll compare the amount you used in 2018 to lower your monthly insurance payment with the actual premium tax credit you qualify for based on your final 2018 income.
You will not need to use form 1095 c to help complete your return because the information about the offer of health coverage made by your employer relates to whether you are eligible for the premium tax credit and you cannot get a premium tax credit if you were not enrolled in a health plan in the marketplace. You will use the information on forms 1095 b to verify that you had health coverage for each month during the year and will check the full year coverage box on your tax return. They provide information required for your tax return such as the total amount of premiums paid and the time frame you were covered. You do not need to wait for the forms to file your taxes and they do not have to be attached to your tax return.
The internal revenue service won t process individual tax returns in 2018 unless taxpayers indicate whether they have health insurance coverage or an exemption. Under the tax cuts and jobs act passed december 22 2017 the amount of the individual shared responsibility payment is reduced to zero for months beginning after december 31 2018.
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