CMS (Center for Medicare and Medicaid Services) has come out with a helpful document titled: 3 Tips About Marketplace Coverage & Your Taxes
The tips are:
- Watch your mail for Form 1095-A. It will help you file your 2014 federal taxes.
- Your final premium tax credit for 2014 will be computed with your federal income tax return. Use Form 8962
- If you didn’t have health coverage for part of 2014, use Form 8965.
The complexity is mind boggling. If you are receiving a subsidy, say goodbye to Form 1040EZ. Have a problem, call your Washington legislatures.