Printed on April 7, 2016
Consideration: The deadline to file 2015 federal earnings taxes is April 18th. You may have simply over one week to file.
Regardless of how you bought your 2015 well being protection — via the Market, your job, or one other supply — you will need to report your 2015 well being protection standing to the IRS if you file.
4 issues to know should you used premium tax credit together with your Market plan in 2015
- You have to file a 2015 tax return and “reconcile” your medical health insurance tax credit score in your return.
- This implies you evaluate the quantity of tax credit score you used upfront through the yr with the quantity you truly qualify for primarily based in your ultimate earnings.
- When you used extra medical health insurance tax credit score than you qualify for, you’ll pay the distinction together with your federal taxes. When you used much less, you may get the distinction as a credit score.
- When you don’t file a 2015 tax return and reconcile, you would lose any superior funds of the premium tax credit score starting in 2017.
Able to get began? Select the state of affairs that greatest applies to your medical health insurance in 2015. You’ll get step-by-step instructions and the medical health insurance tax varieties you want.