Getting your taxes done can feel like a marathon, right? Especially when you encounter forms you're not entirely familiar with. But don't worry, if you've landed on this page, chances are you've received a Form 1095-A, Health Insurance Marketplace Statement, and you're ready to tackle it in TurboTax. You're in the right place! We're going to break it down step-by-step, making this part of your tax journey as smooth as possible.
Understanding Form 1095-A: Your Health Insurance Marketplace Statement
Before we dive into TurboTax, let's quickly understand what Form 1095-A is all about. This form is sent to you by the Health Insurance Marketplace (also known as the Exchange) if you or anyone in your household enrolled in health coverage through them. It's crucial because it provides the information you need to accurately calculate your Premium Tax Credit (PTC) on Form 8962. This credit helps make health insurance more affordable, and you either received it in advance to lower your monthly premiums (Advance Premium Tax Credit, or APTC) or you might be eligible for it as a refund when you file your taxes.
Why is it important? If you received APTC, you must reconcile it on your tax return using Form 1095-A. If you don't, your return could be rejected by the IRS! Even if you didn't receive advance payments, but had Marketplace coverage, you'll still use this form to see if you qualify for the credit.
Now, let's get down to business!
Step 1: Gather Your Documents and Mentally Prepare!
First things first: Have you got your Form 1095-A in hand? This is non-negotiable. It's usually mailed to you by mid-February, or you might be able to download it from your HealthCare.gov account or your state's Marketplace website. If you had multiple Marketplace plans or your coverage changed, you might even have more than one 1095-A. Gather all of them.
Take a deep breath. This isn't as complex as it might seem. TurboTax is designed to walk you through it, and we're here to guide you too!
Step 2: Log In to Your TurboTax Account
Open your web browser and navigate to TurboTax.com, or launch your TurboTax desktop software.
Sub-heading: Accessing Your Return
For TurboTax Online:
Sign in to your TurboTax account.
Once logged in, you should see your current tax return. Click on "Continue where you left off" or "Take me to my return."
For TurboTax Desktop:
Open the TurboTax program.
Load your tax file.
Step 3: Navigating to the 1095-A Section
This is where you'll tell TurboTax about your health insurance. There are a couple of ways to get there, and TurboTax has made it increasingly user-friendly.
Sub-heading: Using the Search Function (Recommended)
This is often the quickest way to find the exact section you need.
Look for a magnifying glass icon or a search box, usually located in the upper right corner of the TurboTax screen.
Type "1095-A" or "health insurance" into the search box.
Press Enter or click the search icon.
A "Jump to" link or similar option should appear. Click on it. TurboTax will then take you directly to the relevant section.
Sub-heading: Manual Navigation (Alternative Method)
If the search function isn't working for you, or you prefer to browse, you can go through the menu options:
For TurboTax Online:
On the left-hand menu, click on "Federal Taxes" (or "Personal" if using Home & Business).
Then, click on "Deductions & Credits" at the top of the screen.
Scroll down the list until you find the "Medical" section.
Look for "Affordable Care Act (Form 1095-A)" and click "Start" or "Update" or "Revisit" next to it.
For TurboTax Desktop:
Click on the "Federal" tab in the left-hand column.
Select "Deductions & Credits" from the top menu.
Scroll down to "All Tax Breaks" and locate the "Medical" section.
Click "Show more" if necessary.
Finally, click "Start" next to "Affordable Care Act (Form 1095-A)".
Step 4: Entering Your 1095-A Information
Once you've reached the 1095-A section, TurboTax will guide you with questions that mirror your physical form. Pay close attention to each field.
Sub-heading: Confirming You Have the Form
TurboTax will likely ask you, "Did you receive Form 1095-A for your health insurance plan?"
Select "Yes."
Sub-heading: Inputting Details from Your 1095-A
This is the core of the process. You'll need to accurately transcribe the information from your paper Form 1095-A into TurboTax.
Policy Information (Part I):
Enter the policy number exactly as it appears on your 1095-A.
You'll also need to input the Health Insurance Marketplace identification number (usually found in Part I, Box 2).
Confirm your name and address as the policy subscriber.
Covered Individuals (Part II):
For each individual listed on your 1095-A (yourself, spouse, dependents), enter their name, Social Security Number (SSN), and dates of coverage.
Double-check SSNs! A simple typo here can cause significant delays.
Monthly Premium Information (Part III):
This is arguably the most critical section. You'll enter the amounts for each month you had coverage.
Column A: Monthly Enrollment Premium: Enter the monthly premium for your plan.
Column B: Monthly Second Lowest Cost Silver Plan (SLCSP) Premium: This amount is crucial for calculating your Premium Tax Credit. Even if you didn't select a silver plan, this value is used as a benchmark. If this column is blank or zero on your 1095-A, you must contact your Marketplace to get this information. Do not enter zero if a value should be there, as it can cause errors.
Column C: Monthly Advance Payment of Premium Tax Credit (APTC): This shows how much financial assistance was paid directly to your insurer each month to lower your premiums. Enter this amount exactly.
Sub-heading: Handling Multiple 1095-A Forms
If you have more than one 1095-A (e.g., you switched plans or had different family members on different plans), TurboTax will prompt you to add another 1095-A after you've completed the first. Repeat the process for each form.
Sub-heading: Allocating the Policy (If Applicable)
If your 1095-A covers individuals who are not on your tax return (e.g., an adult child who files their own taxes but was on your plan), TurboTax will ask you to allocate the policy amounts. You can agree on any percentage split (e.g., 50/50, 100/0) as long as the total allocation across all returns adds up to 100%. This is important for correctly calculating the Premium Tax Credit for each taxpayer.
Step 5: Review and Reconcile
Once you've entered all your 1095-A information, TurboTax will automatically use this data to populate Form 8962, Premium Tax Credit (PTC). This form reconciles the advance payments you received (APTC) with the actual Premium Tax Credit you qualify for based on your final income and household size.
Sub-heading: Understanding Form 8962's Impact
If you received too much APTC: You may have to pay back some or all of the excess credit. TurboTax will calculate this and add it to your tax liability.
If you received too little APTC, or none at all: You may be eligible for an additional credit, which will increase your refund or reduce your tax owed.
It's vital to review the calculated Form 8962 within TurboTax to ensure it looks correct based on your understanding of your health coverage and income.
Step 6: Final Review Before Filing
Before you click that "File" button, take one last, thorough look.
Verify all numbers: Cross-reference the figures you entered in TurboTax with your physical Form 1095-A. Even small discrepancies can lead to IRS inquiries.
Check for errors/warnings: TurboTax will flag any potential issues or missing information. Address these promptly.
Review the entire return: Make sure all other income, deductions, and credits are correctly entered.
Don't rush this step! Accuracy is paramount for a smooth tax filing experience.
Step 7: File Your Return!
Once you are confident that all information from your Form 1095-A and the rest of your tax return is accurate, proceed to file your return electronically through TurboTax. If your return is rejected, it's often due to a mismatch in information, so carefully review the rejection notice and correct any identified issues.
10 Related FAQ Questions
Here are some common questions and quick answers related to Form 1095-A and TurboTax:
How to get my 1095-A if I haven't received it?
You should contact your Health Insurance Marketplace (where you purchased your plan) directly. Many Marketplaces also allow you to download it from your online account.
How to correct an inaccurate 1095-A?
If you believe your 1095-A is incorrect, you must contact your Health Insurance Marketplace to request a corrected form. Do not file your taxes with incorrect information.
How to deal with a zero in Column B of 1095-A?
If Column B (Second Lowest Cost Silver Plan Premium) has a $0 or is blank, you need to obtain the correct amount from your Marketplace. Entering a zero when a value should be present will likely cause an error in TurboTax or an incorrect calculation of your Premium Tax Credit. Healthcare.gov offers a tool to find your SLCSP.
How to handle multiple 1095-A forms?
Enter each Form 1095-A separately in TurboTax. The program will prompt you to add additional forms after you've completed the first one.
How to allocate a shared 1095-A policy?
If a 1095-A covers individuals on different tax returns, you'll need to agree on a percentage allocation for the premiums and APTC. This allocation must total 100% across all relevant tax returns.
How to know if I need Form 1095-A?
You need Form 1095-A if you or anyone in your tax household enrolled in health coverage through a Health Insurance Marketplace (Healthcare.gov or a state Marketplace).
How to find the 1095-A section in TurboTax quickly?
Use the search bar at the top right of the TurboTax screen and type "1095-A" then click the "Jump to" link.
How to fix a "cannot save 1095-A information" error in TurboTax?
Try clearing your browser cache, using a different browser, or deleting the existing 1095-A entries and re-entering them manually. Sometimes, signing out and back in can also resolve this.
How to know if my Form 1095-A information affected my refund/tax owed?
The information from your 1095-A directly impacts Form 8962, which reconciles your Premium Tax Credit. Any difference between advance payments and the actual credit will adjust your refund or tax liability. TurboTax will show you this impact.
How to proceed if I didn't receive a 1095-A but had Marketplace coverage?
You still need to report your Marketplace coverage. Contact your Marketplace immediately to get your 1095-A. Do not file without it if you had Marketplace coverage, especially if you received advance premium tax credits, as your return will likely be rejected.