You’ll need to file a 1040 form under ObamaCare, find out what sections of the 1040 apply to health insurance and what type of 1040 you need to file.

Need to Print Out a 1040 Form? Get a list of all 1040 forms and instructions from the IRS. Or see our full list of ObamaCare tax forms with simple instructions.


What is Form 1040, U.S. Individual Income Tax Return for 2014

Your 1040 is your main tax return form. You’ll attach other ObamaCare forms to your 1040.

Which Form Do I Need to File for ObamaCare?

Below you can find out what version of the 1040 you will fill out depending upon if you or a dependent had coverage, maintained coverage, got exemptions, or got cost assistance.

I Had Coverage and Didn’t Get Cost Assistance: You can file any 1040 form. you’ll report coverage on line 61 on a 1040, line 38 on a Form 1040-A, or line 11 Form 1040-EZ.

I Had Gaps in Coverage and Didn’t Get Cost Assistance: You check the box that says you didn’t have coverage, then you’ll make a Shared Responsibility Payment on line 61 on a 1040, line 38 on a Form 1040-A, or line 11 Form 1040-EZ.

I Got Tax Credits: You’ll need to file a traditional 1040 line 46 to repay tax credits and line 69 to claim net premium tax credits (or 1040-A line 29 and line 45). You can’t file the EZ form.

I Need to Claim Exemptions: You will claim or report coverage exemptions on Form 8965, Health Coverage Exemptions, and file it with your Form 1040, Form 1040A, or Form 1040EZ.

Types of 1040 Forms

There are 3 types of 1040 forms:

1040: The traditional 1040 form that allows one to claim deductions, claim dependents, self employment, and sale of property. If you got tax credits, you’ll have to file this form.

1040-A: A simpler 1040 for capital gains, certain tax credits, and adjustments to income for IRA contributions and student loan interest.

1040-EZ: The simplest 1040, used if you don’t claim deductions or dependents. You can’t file this if you claim dependents or got tax credits.

These forms can all be prepared and filed electronically.

What Parts of the 1040 Do I Need to Fill out for ObamaCare?

Open up 1040 form for 2014 and the 1040 instructions.

Go to line 61 (use the command find function on your keyboard). This is where you report your coverage, or pay the Shared Responsibility Payment if you owe it. Many people will only have to fill out this one line regards to the Affordable Care Act. If you are only filing out this line you can us a 1040-EZ form. (It’s line 38 on a Form 1040-A, or line 11 Form 1040-EZ)

AGI (adjusted gross income) is on line 37. And while it doesn’t say so, Modified AGI or MAGI is typically the total on line 41.

If you got Premium Tax Credits you’ll Adjust Tax Credits from Form 8962 on line 46 and report your Net Premium Tax Credit amount from Form 8962 on line 69.

You’ll use line 25 for Health Savings Account deductions and line 29 for reporting for Self-employed Health Insurance deductions.

If you are filing an A form or EZ form keep in mind the line’s will be different.

Schedule A 1040 Itemized Deductions

You can use a schedule A IRS form to take deductions. Important deductions for the purposes of healthcare include lines 1 – 4. This is where you deduct both Medical and dental expenses.

Other deductions from your schedule A can help bring down your Modified Adjusted Gross Income. That will help many ensure that they avoid repaying subsidies and will potentially help others claim an even larger “net tax credit“.

Can I Just Leave Line 61 Blank?

Of course you can leave line 61 blank, but that pesky 1095 form that is filed on your behalf can still show if you had coverage or not. Consider the fact that in 2014 not all 1095’s are sent. However moving forward everyone who had coverage will be issued a 1095.

Line 61 is based on the honor system and that means it’s up to you to make the payment if it needs to be made. If you owed it, but didn’t file it, the IRS can withhold that money from your tax refund. They cannot enforce the Individual Shared Responsibility Provision with jail time, liens, or any other of typical methods of collection.