Filing federal taxes

R

ripper1

Thinks s/he gets paid by the post
Joined
Mar 26, 2010
Messages
1,154
Location
Chicago
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.:facepalm:
 
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.
 
Just thought that this form would be obsolete now because of new tax law.
 
The law hasn't been abolished, the fine was set to zero.
 
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BTW the law hasn't been repealed, only the penalty for not buying your own insurance.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.
 
timo2 said:
My understanding is the new tax law is for 2018, not 2017
Click to expand...

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.
 
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.
 
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
 
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.
 
Have you logged into your account on healthcare.gov? My 1095A form has been up there for over two weeks now.
 
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.
 
Last edited:
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.
 
ripper1 said:
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.:facepalm:
Click to expand...

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.
 
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...
 
rodi said:
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...
Click to expand...



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.
 
ocean view said:
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.
Click to expand...

Thanks - made me look. The form was there. Not sure how I missed it.
 
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.
 
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!:dance:
 
Sue J said:
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.
Click to expand...



You can get a waiver if consecutive months of non coverage. Penalty should only be for March
 
Bir48die said:
You can get a waiver if consecutive months of non coverage. Penalty should only be for March
Click to expand...



Unless he had insurance for at least one day in Jan/Feb/March, he cannot claim the short-term gap exemption:

IMG_0555.JPG
 
ripper1 said:
Just thought that this form would be obsolete now because of new tax law.
Click to expand...

Penalty was set to zero, but not effective until 2019 and later.

Obamacare’s individual mandate is on the way out. The requirement that folks have health insurance, qualify for an exemption, or pay a fine is repealed for post-2018 years. Keep in mind the mandate continues to apply for 2018. ...
Click to expand...
 
Sue J said:
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.
Click to expand...

I feel your pain... it sounds like something DS would do... sometimes I want to grab him by the neck and yell "Pay attention!". :facepalm:
 
You must log in or register to reply here.

Similar threads

J
Tax Filing Sale of House
Replies
4
Views
395
joesxm3
J
D
Marriage Tax Penalty on Social Security wish I knew earlier
Replies
6
Views
1K
Dave J
D
E
issue with 2022 tax filing
Replies
8
Views
636
cathy63
C
C
LLC Consulting Taxes
Replies
22
Views
1K
G-Man
G
N
Tax Return or Form 990-N for HOA?
Replies
17
Views
754
pb4uski
pb4uski

Latest posts

Back
Top Bottom