New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

Question

How do I enter information for an individual who has an exemption for part of the year and/or health care coverage for part of the year?

Answer

When the entire family does not have coverage for the entire year, each family member with coverage or an exemption needs to be entered in the Detail of individual health care coverage or exemption statement in Screen Coverage in the Health Care folder. Enter each different exemption or coverage on a new row for each individual. For example, for a short coverage gap for January and February, select the individual in the SSN column, select Other Exemption Type code B, and select January for the Start Month and February for the End Month. Then, in a new row, select the individual again in the SSN column, select Other Exemption Type code X for Insured with minimum essential coverage, and select March for the Start Month and December for the End Month. Form 1040, Page 1 will indicate that the entire family had full-year health care coverage or was exempt and no penalty will calculate on the Health Care: Individual Responsibility worksheet. As long as every taxpayer in the tax family had insurance or qualified for an exemption for every month, Form 8965 will not print.

Related topic: Affordable Care Act FAQs

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