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01-29-2018, 03:50 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Mar 2010
Location: Chicago
Posts: 1,154
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Filing federal taxes
Well, this is frustrating as hell. I am ready to file my taxes and I get to the part in credit and deductions about needing form 1095-A for purposes of having health care the whole year. Well, of course, I know it is early but I don't have the form yet from carrier nor can I download it yet. Gee, is this important now seeing that that law has been abolished. I feel like just filing without it. Wondering if anyone has any insight on this. I would hate to do an amended form.....Anxious in the Midwest.
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01-29-2018, 03:55 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2008
Posts: 13,132
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I would wait for the 1095-A.
As yes, an amended form is a bit of pain.
My plan is not until the earliest in March. No rush and I'll let all the tax statements trickle in my mailbox before then.
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
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01-29-2018, 04:02 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Mar 2010
Location: Chicago
Posts: 1,154
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Just thought that this form would be obsolete now because of new tax law.
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01-29-2018, 04:05 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Oct 2010
Posts: 1,216
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The law hasn't been abolished, the fine was set to zero.
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01-29-2018, 04:06 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: Bernalillo, NM
Posts: 2,717
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Quote:
Originally Posted by ripper1
Just thought that this form would be obsolete now because of new tax law.
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My understanding is the new tax law is for 2018, not 2017
__________________
"We live the lives we lead because of the thoughts we think" ...Michael O’Neill
"We can cannot compel others to do our will" ....Norman Goldman
"There never is shortage of the gullible to accept the illogical"...Anonymous
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01-29-2018, 04:07 PM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2009
Posts: 6,682
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I got the 1095-A form last week. I suppose I your state runs the exchange, they may get the stuff to you earlier. And you do need it to complete Form 8962, he one to determine the ACA subsidy, because the data on it usually won't match what you were paying during the year. And yo need it to know the SLCSP.
BTW the law hasn't been repealed, only the penalty for not buying your own insurance. So Form 1095-A isn't going anywhere.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
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01-29-2018, 04:40 PM
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#7
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2006
Location: Boise
Posts: 7,866
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Quote:
Originally Posted by timo2
My understanding is the new tax law is for 2018, not 2017
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While large portions of the bill do in fact take effect this year (and thus will affect the tax returns people file about a year from now), the portion of the new tax law that relates to the ACA penalty for not having insurance being set to zero takes effect one year later in 2019.
I think people who have ACA coverage for 2018 will receive Forms 1095 and will be expected to complete the appropriate ACA tax credit adjustment sections of their 2018 1040.
__________________
"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
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01-29-2018, 05:01 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Mar 2013
Location: Southern California
Posts: 3,995
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My taxes are done but Taxcut has not downloaded a final version of the CA software. I think the earliest I've ben able to have everything lined up for filing is mid-February.
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01-29-2018, 05:03 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Aug 2011
Posts: 3,594
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Under current law, those who receive Premium Tax Credits (PTC), will continue to need to receive and process 1095-A to reconcile any advance premiums received.
This is unrelated to the penatly for not having health insurance being reduced to $0 in 2019.
-gauss
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01-29-2018, 05:11 PM
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#10
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Recycles dryer sheets
Join Date: Feb 2015
Posts: 176
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I already got my 1095 a week ago. Logged into Healthcare.gov and downloaded it. Might just be taking longer in certain states?
I use TurboTax, so it allowed me to show it where to get the file on my computer and it loaded in all the figures correctly. I didn't have to wait for it to contact the exchange or manually enter anything.
__________________
FIRE as of spring 2015!
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01-29-2018, 06:17 PM
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#11
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Thinks s/he gets paid by the post
Join Date: Jul 2007
Posts: 3,222
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Have you logged into your account on healthcare.gov? My 1095A form has been up there for over two weeks now.
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01-29-2018, 06:21 PM
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#12
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 3,679
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In doing my son's taxes he ends up with a penalty of $174 for not having health insurance for Jan, Feb and March. It's 3 months of the $695/yr penalty. I remember this being repealed earlier in the year. Was the repeal canceled or something? He knows he screwed up and figured he'd be paying this.
I posted about this earlier in the year. His auto payment for his insurance was for the wrong amount, he ignored it and his insurance was canceled for non-payment. It was a bit of an adventure but using HealthCare.gov's own system he was able to re-enroll and continue for the rest of the year.
__________________
Married, both 69. DH retired June, 2010. I have a pleasant little part time job.
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01-29-2018, 06:21 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Dec 2015
Posts: 2,232
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I was in the same boat. While waiting for the 1095As, I got two "surprise" 1099 Rs...turns out that a small inheritance that DW received, which she subsequently gave away to siblings, was taxable (despite what the estate lawyer told us)...
Moral of the story: don't be in a big hurry to file.
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01-29-2018, 06:30 PM
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#14
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 3,679
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This happened to me in 2016. The 1095-A was never posted to my account. In mid Feb I called HealthCare.gov and they started an inquiry. Their system said we had canceled our insurance in Jan. 2015. We hadn't canceled anything, we had insurance all year with a subsidy. They investigated for a while and I kept calling and checking. I had monthly invoices and I had records or our payments.
I called every 2 weeks or so and they were still investigating. It got to be near April 15th so I filed without the 1095-A in my hand. I knew the info that would be on it and used those numbers.
I got a letter from the IRS saying that my info did not match the info filed by HealthCare.gov. Finally in May the 1095-A was posted to my account and I could send a copy to the IRS. Soon after that my return was accepted and we got our refund.
__________________
Married, both 69. DH retired June, 2010. I have a pleasant little part time job.
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01-29-2018, 07:37 PM
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#15
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Thinks s/he gets paid by the post
Join Date: Dec 2014
Posts: 2,509
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I got mine. It is online too.
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01-29-2018, 08:12 PM
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#16
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Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,171
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I got an email from Covered CA on 1/23 that the 1095 would be available "within a week". So I guess it will be available tomorrow or the next day.
I still need some bank interest statements etc...
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 6%, rental income 20%
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01-29-2018, 08:24 PM
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#17
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Full time employment: Posting here.
Join Date: Feb 2017
Location: SF Bay Area
Posts: 594
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Quote:
Originally Posted by rodi
I got an email from Covered CA on 1/23 that the 1095 would be available "within a week". So I guess it will be available tomorrow or the next day.
I still need some bank interest statements etc...
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I got that same email last week. It made me laugh because Covered CA emailed me on Jan 3 saying that the form was available in my account, which it was...the right hand doesn’t know what the left is doing.
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01-29-2018, 08:34 PM
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#18
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Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,171
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Quote:
Originally Posted by ocean view
I got that same email last week. It made me laugh because Covered CA emailed me on Jan 3 saying that the form was available in my account, which it was...the right hand doesn’t know what the left is doing.
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Thanks - made me look. The form was there. Not sure how I missed it.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 6%, rental income 20%
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01-30-2018, 09:18 AM
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#19
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Thinks s/he gets paid by the post
Join Date: Jan 2017
Posts: 2,643
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Having simplified a lot for my retirement, I was looking forward to NOT having to file the full 1040 this year.
Then I got a 1099-SA. Not to be confused with 1099-SSA. This is about an HSA from my w*rk days which I'd closed out (properly sending it directly to medical providers) early last year.
This means I have to file Form 8889. Basically, three blocks on the form: How much was dispersed, how much went to qualifying medical expenses (all of it) and the difference (zero.)
Simple enough. But Form 8889 can ONLY be attached to the full 1040. Not A, not EZ.
No big deal. My tax return is still pretty simple to complete. But this thread reminded me how silly some of these procedures can be.
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01-30-2018, 09:48 AM
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#20
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Location: Miraflores,Peru
Posts: 1,992
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I peaked at the IRS website a few weeks ago at a public internet place and confirmed I do not have to file anything again this year! I think this makes it 12 in a row!
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