Who is eligible for Form 1095-A?
Who is eligible for Form 1095-A?
Only people who buy coverage through the Marketplace are eligible for the Premium Tax Credit. If you bought your plan there, you should get a Form 1095-A, also called the “Health Insurance Marketplace Statement.” The IRS also gets a copy of the form.
How do I know if I should receive a 1095-A?
You should wait to receive your Form 1095-A before filing your taxes. You can – and should – file as soon as you have all the necessary documentation. Individuals who did not purchase coverage through the Marketplace, including those with Medicaid or CHIP coverage, will not receive a Form 1095-A.
How does Form 1095-A affect my taxes?
Form 1095-A gives you information about the amount of advanced premium tax credit (APTC) that was paid during the year to your health plan in order to reduce your monthly premium. This information was also reported to the IRS.
Did not receive 1095-A?
If you have not received your Form 1095-A or you received an incorrect 1095-A, you should contact the Marketplace from which you received coverage.
Can I file my taxes without my 1095-A?
You can’t file your federal taxes without Form 1095-A. You’ll need it to “reconcile” — find out if there’s any difference between the premium tax credit you used in 2020 and the amount you qualify for.
What happens if you don’t file your 1095-A?
A few things may happen: (1) The IRS can adjust your return based on that missing information, and if they determine taxes should have been due, they will asses penalties and interest on that amount, (2) They can reject your return for incomplete information, or (3) They will hold your refund and request you send in …
What happens if you forgot to file 1095-A?
If you forgot to include Form 1095-A, in your income tax return, you’ll probably get a letter from the IRS requesting it.
Can I get my 1095-a online?
Your 1095-A should be available in your HealthCare.gov account. Log into your healthcare account and follow these steps. Under “Your Existing Applications,” select your 2019 application — not your 2020 application.
