Health Insurance info on return

[snowshoe]

So, is there or is there not anywhere on the 2013 tax return to enter any health insurance info for the ACA on the return?

[Koss]

Affordable Care Act

What information are you seeking to enter on the return?

Most of the key provisions of the law, such as the individual mandate, do not take effect until 2014. For example, the penalty tax for not having health insurance will appear for the first time on tax returns for 2014.

So I don't think any data is entered into the 2013 return.

Information is flowing in the other direction. Health insurance data does not go into the 2013 return. Rather, it is data from the 2013 return that flows into certain health insurance documents.

When a person applies for health insurance on the Obamacare website, they need to determine whether they are eligible for a tax credit, and if so, how much. Here again, the actual tax credit will appear on the 2014 tax return. But the amount of credit that they are eligible for right now, toward the purchase of insurance, is determined by using income, and other data, from the 2013 tax return.

BMK

[snowshoe]

thank you. I see that this ? got many views, but not many takers. Not sure if that indicates not REALLY knowing or not worth answering.

I did my CE prior to tax season & plenty of research, found nothing that I needed to do. However, I have had several clients that have received letters from their native corps (they qualify for healthcare w/o cost at their facility & possibly others). Anyhow, the letters state to make sure to give their tax preparer their info (possibly a #) saying they are exempt. Now, someone read me the letter or a portion of it, but I have not had one in my hands. Another client saw her co-workers filling out forms- I'm thinking this could just be enrollment stuff, although she thought it was tax related. And another preparer (using Turbo Tax) SWEARS there is info to include within that program that is ON the 2013 returns.

None of this makes sense to me since the enrollment deadline isn't upon us yet, but I dont want to neglect some needed info on this rtn for next year. AND I don't get why this is even my problem! (semi-sorry for that last little vent) >:}

[FEDUKE404]

Not aware of any ACA impact on 2013 tax returns

I tend to agree with Koss. So far as I know, there is nothing related to the ACA that would directly impact a 2013 income tax return.

There is, in box 12 of many Forms W2, an entry coded "DD" but that also has no relation to overall 2013 income tax liability. I believe the phrase is "for future use."

Apparently some of the franchise tax firms are cranking out some worksheets that can be helpful for dealing with the ACA/insurance enrollment in 2014 and beyond, but again that is not a 2013 tax filing matter. I would guess such info is not unlike the "FAFSA worksheets" that some tax software generates, as it basically collects numbers from the current (2013) tax return that would be entered on the FAFSA application.

But if you can find one of those letters you referenced, perhaps that could clear things up for us all?

FE