Obamacare and Taxes: How are They Connected?

The TurboTax Blog

For most people, the Affordable Care Act (ACA), also known as Obamacare, had no effect on their 2013 federal income tax return.

This was due in part to the fact that many of the tax provisions under the Affordable Care Act went into effect on January 1, 2014, just after the time frame to be included in your 2013 tax return.

Starting in 2014, you may see changes on your 2014 taxes related to the Affordable Care Act and TurboTax Health wants to make sure you’re prepared.

Proving You Have Health Coverage or Are Exempt When Filing Taxes
You’ll be required to provide information about your health insurance coverage or any exemption of the requirement when you file your 2014 federal income tax return in 2015.

The amount employers pay for employer-sponsored group health plans will be required to be reported on the employee’s 2014 W-2.

It’s important to note…

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