Reconcilling 1095

[Marie]

TP and spouse go to the marketplace

Jan, Feb, March both names on 1095 and numbers same for these 3 months

April - Oct both names, monthly prem higher, but same for all months

Nov - only husband's name premium looks like just for him (about half)

Dec both names again, prem back up, but not the same as the first of the year.

They rec'd 4 1095. In Sept, had a child, but child got put on state insurance (Medicaid)

Couple makes $44000.

Do I put all four on the same 8962, the software calculates a repayment to IRS

then put the wife on the 8965 showing no insurance for 1 month? with a small penalty?

[Lion EA]

Does a less than three month gap get a penalty?  Isn't there an exception for that?

[jklcpa]

Does a less than three month gap get a penalty?  Isn't there an exception for that?

 

 

Yes, code B on the 8965 for coverage gap of less than 3 months and does not need a marketplace exemption number.  The exemption for this is claimed directly on that form.

[Marie]

Forgot about the 1 month gap. thanks

on the 1095's - all are put on one sheet? As I read, I do not put totals into lines 11 since insurance wasn't the same all year?

[jklcpa]

Forgot about the 1 month gap. thanks

on the 1095's - all are put on one sheet? As I read, I do not put totals into lines 11 since insurance wasn't the same all year?

 

 

It sounds like you are now asking about the 8962 to reconcile the PTC since since referenced line 11 and having more than one 1095.  If that is the case, because you have more than one 1095 and the amounts are not the same for every month of the year on all of them, you must use the monthly input section that begins on line 12.   The instructions for form 8962 include detailed instructions, starting on page 10, of what to enter in each column from the 1095s. It might be as simply as adding them together, BUT it can be more complicated depending on several more factors.