Hey there! Ready to tackle your taxes like a pro? If you've been wondering how to get your Form 1095-A squared away in TurboTax, you've come to the perfect place. This guide will walk you through every single step, ensuring you accurately report your health insurance marketplace information and avoid any tax-day headaches.
Let's dive in!
Understanding Form 1095-A: Your Health Insurance Marketplace Statement
Before we get to the "how-to," let's quickly clarify what Form 1095-A is. This isn't just another piece of paper; it's a crucial document you receive from the Health Insurance Marketplace (like HealthCare.gov or your state's marketplace) if you or anyone in your household enrolled in health coverage through them.
Why is it important? Form 1095-A reports vital information about your health insurance coverage, including:
The dates of your coverage.
The total amount of your monthly premiums.
The Second Lowest Cost Silver Plan (SLCSP) premium, which is key for calculating your Premium Tax Credit.
Any advance payments of the Premium Tax Credit (APTC) you received.
This information is essential for completing IRS Form 8962, Premium Tax Credit, which you must file with your tax return if you received advance payments or want to claim the Premium Tax Credit. Don't worry, TurboTax will handle the Form 8962 for you once you input your 1095-A details!
The Step-by-Step Guide: Uploading Your 1095-A to TurboTax
Here’s a comprehensive guide to entering your 1095-A information into TurboTax. Remember, there's no actual "uploading" of the PDF form itself; instead, you'll be entering the data from the form into the TurboTax software.
Step 1: Gather Your Documents (The All-Important First Step!)
Before you even think about opening TurboTax, let's make sure you have everything you need. This will make the entire process so much smoother!
Your Form 1095-A: This is non-negotiable. Make sure it's the original or a corrected version if you received one. If you can't find it, you can usually download a copy from your HealthCare.gov account or your state's marketplace website.
Your TurboTax Account Information: Have your login credentials handy.
A Stable Internet Connection: Especially if you're using TurboTax Online.
Engage User: Got your Form 1095-A in hand? Excellent! Take a moment to scan through it and familiarize yourself with the sections. Notice the different parts: "Recipient Information," "Covered Individuals," and "Coverage Information." Having a quick look now will make entering the data much easier later.
Step 2: Accessing the Health Insurance Section in TurboTax
Now that you're prepared, let's get into TurboTax. The exact steps might vary slightly depending on whether you're using TurboTax Online, the desktop software, or the mobile app, but the general flow is the same.
For TurboTax Online (Recommended Method for Ease):
Sign In: Go to the TurboTax website and sign in to your account.
Open Your Return: If you haven't already, open or continue your current tax return.
Use the Search Bar (The Quickest Way!): This is often the fastest route.
Look for the magnifying glass icon or a search box, usually located in the upper right-hand corner of the screen.
Type "1095-A" or "health insurance" into the search bar.
Press Enter or click the search icon.
You should see a "Jump to" link (e.g., "Jump to 1095-A"). Click on this link.
Alternative Navigation for All TurboTax Versions:
Navigate to Federal Section:
In the left-hand menu, click on "Federal" (or "Federal Taxes" or "Personal" if using Home & Business).
Go to Deductions & Credits:
At the top of the screen, click on "Deductions & Credits."
Find Medical Section:
Scroll down the list of tax breaks.
Look for the "Medical" section and click on "Show more" or "Start/Revisit."
Locate Affordable Care Act (Form 1095-A):
Within the Medical section, find "Affordable Care Act (Form 1095-A)" and click "Start" or "Revisit" next to it.
Step 3: Confirming You Have Form 1095-A
Once you've navigated to the correct section, TurboTax will likely ask you a clarifying question:
"Did you receive Form 1095-A for your health insurance plan?"
Select "Yes." This is crucial. If you received a 1095-A, you must report the information.
Click "Continue" to proceed.
Step 4: Entering Your 1095-A Information
This is where you'll transfer the data from your physical or digital 1095-A form into TurboTax. Take your time and be extremely careful to ensure accuracy. Even a small typo can lead to discrepancies with the IRS.
Section 1: Recipient Information (Part I on 1095-A)
Marketplace ID: Enter the unique Marketplace Identifier from your 1095-A. This is usually found at the top of the form.
Policy Number: Input your policy number exactly as it appears on the form.
Your Name and Social Security Number: Verify that your name and SSN are correctly pre-filled or enter them as they appear on your 1095-A.
Address: Confirm your address.
Section 2: Covered Individuals (Part II on 1095-A)
You'll be asked to list all individuals covered under this policy.
For each person listed on your 1095-A (yourself, spouse, dependents), enter their:
Name
Social Security Number (SSN)
Date of Birth (DOB) if an SSN isn't provided (though usually an SSN is preferred).
Months of Coverage: Indicate the months each individual was covered by this plan.
Section 3: Monthly Premium Information (Part III on 1095-A)
This is perhaps the most critical part, as it directly impacts your Premium Tax Credit calculation. You'll see columns for each month of the year (January through December) and three key values for each month:
Column A: Monthly Premium Amount: Enter the amount shown in Column A of your 1095-A for each month. This is the actual monthly premium for your plan.
Column B: Second Lowest Cost Silver Plan (SLCSP) Premium: Enter the amount from Column B for each month. This is the benchmark premium used by the IRS to determine your Premium Tax Credit. Even if you weren't enrolled in a silver plan, this amount is crucial.
Column C: Advance Payment of Premium Tax Credit (APTC): Enter the amount from Column C for each month. This is the portion of your premium that the government paid directly to your health insurer on your behalf.
Important Tip for Blanks/Zeros: If a month has a blank entry on your 1095-A for a specific column, leave the corresponding field in TurboTax blank (do not enter a zero unless a zero is explicitly printed on your 1095-A). Entering a "0" when it should be blank can sometimes trigger errors.
Step 5: Reviewing and Continuing
Once you've entered all the information for your 1095-A, TurboTax will guide you through a review process.
Double-Check Everything: Seriously, take an extra minute. Compare the data you entered in TurboTax against your physical Form 1095-A line by line, month by month.
Address Any Errors: If TurboTax flags any errors or inconsistencies, go back and correct them. Common errors include:
Missing entries for certain months.
Entering "0" instead of leaving a field blank.
Mismatched SSNs.
Click "Continue" once you're confident that all information is accurate.
Step 6: Handling Multiple 1095-A Forms or Shared Policies
Multiple Forms: If you received more than one Form 1095-A (e.g., you changed plans during the year or had different policies for different family members), TurboTax will prompt you to enter information for additional forms. Simply repeat Step 4 for each additional 1095-A.
Shared Policies: If you shared a health insurance policy with someone who is not on your tax return (e.g., an adult child who files their own taxes), TurboTax will ask you about sharing percentages for the premium, SLCSP, and advance payments. You and the other individual(s) must agree on these percentages, and they must add up to 100%. TurboTax will walk you through entering these details if applicable.
Step 7: TurboTax Calculates Form 8962
Once you've successfully entered all your 1095-A information, TurboTax will automatically use this data to generate Form 8962, Premium Tax Credit. This form reconciles the advance payments of the Premium Tax Credit (APTC) you received with the actual Premium Tax Credit you're eligible for based on your final income.
Reconciliation:
If you received more APTC than you were eligible for, you might have to pay some back. This is often called "repaying excess APTC."
If you received less APTC than you were eligible for, you might get an additional credit or a larger refund.
You don't need to manually fill out Form 8962; TurboTax handles it all behind the scenes. It will be included with your e-filed or printed tax return.
Step 8: Proceed with the Rest of Your Tax Return
With your 1095-A information entered and Form 8962 calculated, you can now continue with the rest of your tax return, entering income, other deductions, and credits. The heavy lifting for your health insurance marketplace statement is done!
FAQs: How to...
Here are 10 common "How to" questions related to Form 1095-A and TurboTax, with quick answers:
How to get a copy of my Form 1095-A?
You can usually download a copy of your Form 1095-A from your HealthCare.gov account or your state's Health Insurance Marketplace website. If you can't access it online, contact the Marketplace directly.
How to enter a corrected Form 1095-A into TurboTax?
If you receive a corrected Form 1095-A, simply go back into the 1095-A section in TurboTax (using the "Jump to" search feature is quickest) and update the existing entries with the new information from the corrected form.
How to handle a shared 1095-A policy in TurboTax?
TurboTax will ask if you shared the policy. If so, you'll need to enter the Social Security Number of the primary policyholder on the form and then specify the agreed-upon percentage of the premium, SLCSP, and advance payments that you are claiming. Everyone on the shared policy must agree to these percentages.
How to fix an error I made entering my 1095-A in TurboTax?
Go back to the 1095-A entry screen by searching for "1095-A" and clicking the "Jump to" link. You can then edit the incorrect entries. Always double-check all entries after making corrections.
How to delete a Form 1095-A I entered by mistake in TurboTax?
In TurboTax, go to "Tax Tools" (usually on the left-hand menu), then "Tools," and select "Delete a form." Find Form 1095-A (or Form 8962, which is generated from it) and delete it. You may need to delete Form 8962 first.
How to know if I need Form 1095-A for my tax return?
You need Form 1095-A if you or anyone in your household enrolled in a health plan through a Health Insurance Marketplace (like HealthCare.gov) and received advance payments of the premium tax credit or wish to claim the Premium Tax Credit.
How to find the Second Lowest Cost Silver Plan (SLCSP) premium on my 1095-A?
The SLCSP premium is typically found in Part III, Column B of your Form 1095-A. This column shows the monthly premium for the second lowest cost silver plan available in your area.
How to deal with months where I had no coverage on my 1095-A?
If your 1095-A shows months with zero coverage or amounts, leave the corresponding fields blank in TurboTax for those months unless a '0' is explicitly printed on your form.
How to proceed if I haven't received my 1095-A yet?
It's crucial to wait for your Form 1095-A before filing. Contact your Health Insurance Marketplace directly to inquire about your form and to request a copy. Do not guess at the numbers.
How to understand the impact of Form 1095-A on my refund or tax owed?
Form 1095-A, specifically the advance payments of the Premium Tax Credit (APTC) reported in Column C, impacts your refund. If you received too much APTC, you may owe some back. If you received less than you were eligible for, it can increase your refund or reduce your tax liability. TurboTax calculates this for you on Form 8962.