Printed on April 13, 2017
The April 18 tax submitting deadline is lower than one week away. Regardless of for those who obtained your well being protection by the Market, your job, or one other supply, it’s essential to report your 2016 protection standing to the IRS if you file.
If you happen to had a 2016 Market plan with premium tax credit
- You need to have obtained tax Kind 1095-A, Well being Insurance coverage Market® Assertion within the mail. You can too get this manner in your on-line Market account. See how one can discover it.
- Use your Kind 1095-A to your medical insurance tax credit score in your return. If you happen to used much less premium tax credit score than you qualify for, you will get the distinction as a credit score. If you happen to used extra, you’ll pay the distinction together with your federal taxes.
- If you happen to don’t file a 2016 tax return and reconcile, you could possibly lose any advance funds of the premium tax credit score starting in 2018.