ObamaCare Tax Tips

Here are some quick tips for filling healthcare related taxes by the April 15th 2019 deadline for 2018 taxes.

  1. There is no fee for 2019, but there was for 2018.
  2. You have to answer the questions on having healthcare on your 1040, don’t got silent.
  3. If you had any complexities with healthcare (tax credit repayments, exemptions, medical deductions, etc), you’ll have to file at least one of the 1040 schedule forms.
  4. You can technically still fund your HSA (although you may not have time to make the wire transfer). If you regret not funding your HSA, you still have time. Funding an HSA can lower your taxable income for 2018.
  5. If you got tax credits, file form 8962. If you need an exemption, file form 8965.
  6. You can always file an extension on your taxes if you aren’t ready.
  7. If you have an ECN pending, but don’t have your ECN yet… you can put “PENDING” in the box instead of a code on form 8965.
  8. If you don’t have your 1095-a yet, check your marketplace account. If you still don’t have it, you can actually use some tricks to work out the information that would be on it. See what to do if you don’t have a 1095.

For a full list of all things related to the ACA and taxes, see our page on filing taxes for the ACA.

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