Is A Proof Of Insurance Form Still Required For Filing 2018 Taxes
Although they are not necessary to file your tax return 1095 forms can be used as documentation for any extra deductions you want to claim on your taxes.
Is a proof of insurance form still required for filing 2018 taxes. The mandate for health insurance has been repealed. New guidelines will require taxpayers to address their health insurance status when filing taxes in 2018. However it s a good idea to keep these records on hand to verify coverage. The internal revenue service won t process individual tax returns in 2018 unless taxpayers indicate whether they have health insurance coverage or an exemption.
You will only be required to accurately and honestly report if you have health insurance. If the irs asks for the proof they will send you a letter asking for it and then you can mail it in. 2018 tax filing season starts january 29 2019. A 1095 form acts as proof of your health insurance and is useful to keep for your own personal records.
However it does not take effect until this year 2019. Form 1095 information forms. Instead these tax forms will provide the information you need to accurately complete your taxes. You must report information about your 2018 health coverage when you file.
Keep an eye out for form 1095 a. If you had marketplace health insurance in 2018 check out these 3 tips. Statements from your insurer. But it does say that it s a good idea to have certain.
2018 tax forms require filers to indicate coverage. You can indicate on your return that you have health insurance. You are not required to send the irs information forms or other proof of health care coverage when filing your tax return. There is a requirement of coverage in 2018.
While each of these tax forms will be used as your proof of health insurance you do not need to submit these forms with your tax returns. The penalty for failure to have had insurance in 2018 is 695 per adult and 347 50 per child up to a maximum of 2 085 per family or 2 5 of income whichever is greater.