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TrudyM 10-18-2013 11:22 AM

obamacare income tax info
 
If anyone has questions about the new care act and taxes or other questions of the like the turbo tax people have put up an info site that might be useful. It has a long fact page that covers a lot of questions. Thought it might help some people.

https://ttlc.intuit.com/health-care/

Here is the question I had and the answer:
24. Will I have to do something on my federal income tax return to show that I had coverage or an exemption?

The individual shared responsibility provision goes into effect in 2014. You will not have to account for coverage or exemptions or to make any payments until you file your 2014 federal income tax return in 2015. Information will be made available later about how the income tax return will take account of coverage and exemptions. Insurers will be required to provide everyone that they cover each year with information that will help them demonstrate they had coverage beginning with the 2015 tax year.


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