DiSabatino CPA Blog

Mike DiSabatino CPA

1 minute reading time (276 words)

Check the Health Care Check Box

Check the Health Care Check Box
Check the Health Care Check Box
Pay attention to 1040 line 61

Unless you have spent the last twelve months in a bubble,

you have heard many news stories regarding the Affordable Care Act. As you prepare to file your income tax return for 2014, here is an important tip if you receive your health insurance through work.

Check box 61

Yes, that is correct. This box will need to be checked by approximately 75% of all taxpayers. It is your confirmation that you have health insurance through your workplace. It tells the IRS:

  1. You are not eligible to receive the new Premium (Health) Credit.
  2. You are not subject to the shared responsibility payment required for most taxpayers that have no health insurance.

If box 61 is unchecked, you may pay a fee for having no health insurance (exceptions apply) or you will receive a Form 1095-A indicating you have insurance through the Health Care Marketplace (the Exchange). Remember a Form 1095-A is needed to be eligible for the Premium Health Credit.

So when reviewing your tax return, if you have health insurance through work, check that you have "checked" the box on line 61 of your 1040 tax form.

Please give us a call to discuss this or any of our other topics with you, so we can address your specific requirements.

DiSabatino CPA
Michael DiSabatino
651 Via Alondra Suite 715
Camarillo, CA 93012
Phone: 805-389-7300
ww.sharpcpa.com

This publication provides summary information regarding the subject matter at time of publishing. Please call with any questions on how this information may impact your situation. This material may not be published, rewritten or redistributed without permission, except as noted here.  All rights reserved.

1
Elect S corporation status by March 16
Warning: Watch out for aggressive phone scams agai...

Related Posts

 

Speed Up Your Success!

Contact Us Today: 1-805-389-7300

© 2006-2018 Michael DiSabatino, CPA. All Rights Reserved.