TAX-AIDE
1. Full-Year Coverage for Entire Household
● Check box on 1040 Ln 61
Preliminary – TY2014
No further action required for ACA
TAX-AIDE
2. Otherwise… If
● Any member of taxpayer’s household has MEC for less than entire year -OR-
● Insurance was purchased through the Marketplace -OR-
● Exemptions are applicable
Select 1040 Wkt8 – Key to ACA!
Preliminary – TY2014
TAX-AIDE
How do we get necessary forms to the TaxWise Tree?
● Select TW “1040 Wkt8”
● Read the Instructions. Carefully!
TAX-AIDE
Determine SRP
● Check “Full” box or months with neither MEC nor an exemption
Click icon to add picture
Preliminary – TY2014
TAX-AIDEPreliminary – TY2014
● Taxpayer purchased insurance through Marketplace beginning in March for a possible exemption in Jan and Feb
When Exm is checked, Form 8965 is loaded into the tree
TAX-AIDE
3.Eligible for Premium Tax Credit?
Preliminary – TY2014
When Mkt is checked, Form 8962 is loaded into the tree
TAX-AIDE
BUT… TP Has to Repay Some or All Excess Advance PTC – 1040 Line 46
Preliminary – TY2014
1040 Pg 2
Form 8962 Part 3
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