1095A, important information for you

Home Forums General Discussion 2020 Tax Season 1095A, important information for you

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  • #4357333
    Sarah
      @sarah21

      Hopefully this site lets me post this, I have been having issues all day not being able to post.

      If you had even 1 month of the marketplace insurance you have to report your 1095A on your return. Which then calculates a form 8962. There are NO EXCEPTIONS.

      What it does is, it reconciles your payments by your AGI to make sure you qualify for that plan. If you did not qualify and your AGI was higher than what you reported to the marketplace you will owe. If your income was a bit lower than reported, you may receive a credit.

      Yes 2019 the IRS did away with having yo require health insurance so you don’t get a penalty, however some states STILL REQUIRE it. Please contact your state to know. My state does require healthcare still, California.

      This is a very high probability that is why people are seeing STILL PROCESSING on WMR.

      This isn’t hearsay, so please don’t argue. I’m just trying to help. Been preparing taxes since 2015.

      If you got the marketplace for even one more, and did not put it on your return. I would get that information ready so your refund isn’t delayed further.

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      • #4358402
        CaptainQuirk
          @captainquirk

          I got my 1095-a a week after filing. First year on the marketplace, TurboTax didn’t mention it AT ALL so I had no idea I needed it until too late.

          Haven’t gotten any letter, it’s been 3 weeks today. I’ve had some people tell me they didn’t get a letter until AFTER their refund and had to amend.

          No movement on WMR- lost my bars, no letter. Guess I can try calling but we all know how useful that is…

        • #4358166
          Justin NJ

            I submitted my taxs, then got a 1095B.

            The last 4 months of the year, I qualified for government free insurance.

            However, my questions are:

            Do i have to file an amended as HRB didn’t ask any questions about health ins.?

            Am I going to get a bill for the other months where I didn’t have ins, or does the govn ins exempt? I mean, they don’t know which months I was working. L)

          • #4357716
            Ef

              I just got the letter too. My tax preparer had the form but didnt put it in. So now I’m delayed. He electronically processed and faxed irs to fix it. I’m wondering how long this will take. I just fixed it today. Ugh. Anybody else.

            • #4357369
              Elled6

                Exactly right! The letter explains that exact thing. I am one of them who got the letter. 🙋‍♀️

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