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Saturday, February 20, 2016

Form 1095

Please read the disclaimer first.

This year, you may get an unfamiliar tax form, a variant of Form 1095.

Part of the Affordable Care Act (a.k.a. Obamacare), this form shows health insurance coverage of you, your spouse, and any dependents during the tax year.

You can use this to complete line 61 on the 1040, Health care: individual responsibility.  You may also qualify for tax credits on line 69, Net Premium Tax Credit.

You may have to pay a "Shared Responsibility Payment" if your household was not fully covered.

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