rvega
Level 1
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For 2020 income tax
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0 Cheers
puravidapto
Level 5
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I do not think you need to enter 1095-B as the penalty for the lack of insurance has been eliminated.

Please see my signature to vote for my proposal for the good the user community, it should just take a few seconds. Thanks.

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itonewbie
Level 15
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Federal penalty for individual mandate has been reduced to $0 as @puravidapto says.

Some states such as CA and MA, however, continue to assess penalties for failure to maintain MEC.  If your client is subject to penalties at the state level, you will still need to make the relevant entries from 1095-B.

The input for CA, for example, is under Credits > Premium Tax Credit (1095-A, 8962) > CA Premium Assistance Subsidy/Penalty and CA Form 3895 - Health Insurance Marketplace Statement.

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itonewbie
Level 15
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Input for MA, on the other hand, would need to be made under State & Local > Other > MA Schedule HC

In other words, the input screens can usually be found under Credits or State & Local > Other.

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puravidapto
Level 5
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MA requires its own form 1099-HC (MA Health Care Coverage) as shown in this link. 1095-B won't do.

PS: NJ also requires medical coverage since 2019.

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0 Cheers
itonewbie
Level 15
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@puravidapto  You're correct.  I should have been more specific about MA needing MA 1099-HC.  Thanks for pointing that out.

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