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What is a Premium Tax Credit (ACA/Obamacare)

WebThe Premium Tax Credit is a refundable credit designed to assist eligible individuals and families afford health insurance purchased through the Marketplace. If you get your …

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URL: https://support.taxslayer.com/hc/en-us/articles/360015907251-What-is-a-Premium-Tax-Credit-ACA-Obamacare

How do I complete the Health Savings Account section in the …

WebProgram Entry. Federal; Deductions - Select my forms; Adjustments; Health Savings Account Form 8889; Form 5498-SA reports contributions made to your IRA, Health …

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What items are considered Medical and Dental Insurance

WebIf you purchased insurance for medical and dental care and had the premiums deducted from your pay, you cannot claim the amount as a deduction on your return. If you …

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Why are you asking if I have insurance under the Affordable

WebThe Advanced Premium Tax Credit is a credit that is given to lower your monthly health insurance premium. The IRS requires this information to determine if a repayment of the …

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Affordable Care Act – Support

WebSimply Free. Form 1040 & limited credits only. Free federal return for those who qualify.

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What's the difference between a Family Plan and a Self Only

WebFor tax year 2021, you were allowed to contribute the following amounts to an HSA: $3,600 for individual health plans. $7,200 for family health plans. For tax year 2020, you were …

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How do I report my 5498-SA

WebForm 5498-SA reports contributions made to your IRA, Health Savings Account (HSA), Archer Medical Savings Account (MSA), or Medicare Advantage MSA (MA MSA).. Type …

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How do I report my 1099-SA

WebThe total earnings distributed with any excess HSA or Archer MSA contributions returned by the due date of the account holder's tax return. Included in Box 1 amount. If the amount …

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What is Form 1095-A Obamacare or ACA

WebForm 1095-A is a form mailed from the Marketplace because you or a family member enrolled in health insurance through the Marketplace during the tax year. The form …

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Do I qualify for the Self-Employed Health Insurance Deduction

WebIf you were self-employed, you may be able to deduct any amounts that you paid to provide health insurance for yourself, your spouse, and/or your dependents. To qualify for the …

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I am a Non Resident of California. Why am I getting the

WebWhy am I getting the healthcare penalty? Full-year nonresidents filing Form 540NR, while not subject to the California MEC Individual Mandate, nonetheless are subject to the …

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How do I compute my household income for the M1PR

WebRenters: File using your income for the period you lived in Minnesota. If you were married, also include your spouse’s income for the period you lived in Minnesota. Include a …

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What type of Credits are available on my Wisconsin Return

WebCarryforward of Unused credits (Sch CF) Manufacturing Credit and Agricultural Credit (MA-M): Amount of credit taken on 2022 return (line 16) must be added to income on your …

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Who is considered a Member of my Household

WebHousehold members typically includes the taxpayer, spouse (if applicable) and the taxpayer's dependents when referring to a household for the Health Insurance …

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What type of income can I subtract/deduct on my New Mexico …

WebMilitary Active Duty Pay. Enter the pay, wages or salaries paid to you or your spouse for active duty military service in the armed forces of the United States, if it was included in …

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What do the codes mean in Box 12 of my W-2

WebAccording to the W-2 instructions from the IRS, the following list explains the codes shown in box 12 on the W-2: Elective deferrals to a section 401 (k) cash or deferred arrangement. …

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What's new in 2023 for Iowa

WebStarting with the 2023 tax year, the additional Iowa health insurance premiums deduction will be limited to taxpayers age 65 or older with Iowa taxable income of $100,000 or less. …

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The code for my W-2 (Box 14) is not listed. What do I enter

WebSelect "Other (Not Listed Here)" for the Code for your Box 14 entry. If the item is not specifically included in the drop-down listings for Box 14, the IRS has not provided a …

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What do the Expense entries on the Schedule C mean

WebExpenses. The IRS allows you to deduct the cost of business-related expenses that are considered both ordinary and necessary in your trade or business. Advertising - Amounts …

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