Published on April 13, 2017
The April 18 tax submitting deadline is lower than one week away. No matter should you obtained your well being protection by way of the Marketplace, your job, or one other supply, you have to report your 2016 protection standing to the IRS while you file.
If you had a 2016 Marketplace plan with premium tax credit
- You ought to have obtained tax Form 1095-A, Health Insurance Marketplace® Statement within the mail. You may also get this manner in your on-line Marketplace account. See tips on how to discover it.
- Use your Form 1095-A to your medical health insurance tax credit score in your return. If you used much less premium tax credit score than you qualify for, you will get the distinction as a credit score. If you used extra, you’ll pay the distinction together with your federal taxes.
- If you don’t file a 2016 tax return and reconcile, you might lose any advance funds of the premium tax credit score starting in 2018.