1040-SR (Web-based) | Health Insurance Marketplace Statement (Form 1095-A)

Owned by Sigma Tax Pro
Last updated: Feb 14, 2024

💡Who has a Form 1095-A?

If an individual on the tax return was covered by a Health Insurance Marketplace plan, they'll receive a Form 1095-A from the federal marketplace or a state exchange by January 31st, either in the mail, or via Healthcare.gov .

💡What is on Form 1095-A?

Form 1095-A includes:

  • Each individual covered under the policy

  • Enrollment premiums for each month

  • Applicable Second Lowest Cost Silver Plan (SLCSP) that applied to the covered individual(s).

  • The Advance Premium Tax Credit (APTC) the policyholder received during the year as an offset against their monthly premium.

💡Where is Form 1095-A?
Form 1095-A can be found under the name of Form 8962 on our software. If the taxpayer was covered under Marketplace Health Insurance, their return MUST BE filed with Form 8962.

 

To add a Form 1095-A, follow the steps below:

  1. From the left-side widget, click Health Insurance, or search for 8962 in the search box as shown below

2. When asked this question, select YES and click Continue

3. This page lists the members of the household as indicated on the tax return; the taxpayer, spouse, and dependents and is for informational purposes only since the penalty for not having health insurance has been eliminated since tax year 2019. There is no reason to add an individual to the list since it only relates to the penalty calculation, not the premium tax credit calculation. So, to sum it up,

you may keep it as it is

4. Answer these questions accordingly

Were you eligible to receive unemployment compensation for any week in 2021?
Answer YES if the taxpayer, and/or their spouse if filing jointly, received or were eligible to receive unemployment compensation during 2021. Answering YES will set line 5 "Household income as a percentage of federal poverty line" to 133%.

 

Are you required to repay all of the APTC received?
Generally, the answer to this question is NO, but it’s YES only if:

  • Taxpayer isn't lawfully present in the US, or

  • Taxpayer meets the criteria to receive the Health Coverage Tax Credit.

Do all Forms 1095-A include coverage for January through December, with no changes in monthly amounts?
If the answer is YES, you only need to enter the annual totals shown on Form 1095-A line 33 for columns A, B, and C.

If NO, you will need to enter the amounts in each of those columns for each month of the year.

 

5. When done answering the questions above, enter the amounts as seen on

Form 1095-A