Guide to Tax Form 1099H

Let’s break down exactly what this form was all about and how it impacted your income tax return. The 1099H form is an Internal Revenue Service form that reports the total amount of advance payment received for the Health Coverage Tax Credit. This is an example of how Form 1099 H looked:

This document contains information about the issuer/payer, which was the health insurance company, including their name, their address, and their taxpayer identification number (TIN). You’ll see your TIN (often your Social Security Number) and the information for the payee, which is you. This information was needed when you filed your

tax returns

• in order to determine the amount of credit you received. This box shows the number of months you received HCTC payments. of HCTC advance payments and reimbursement credits paid to you –
• This shows the number of months you received HCTC payments.

Boxes 3-14 –

These boxes show the HCTC advance payment amount you received in each month (the total of these boxes equal the amount in Box 1).

Form 1099-H instructions

Check for accuracy

: As a tax filer, it’s important to always check the numbers on your tax forms to ensure accuracy. Report on your tax return

• If you received Forms 1099-H you would have reported them using Form 8885. If you e-filed with TaxAct(r), our software helped walk you through the process step-by-step.Keep Form 1099-H: Always hang onto your tax forms for at least three years in case the IRS needs to verify something.FAQs about Form 1099-HHow do I report a 1099-H?To report your HCTC payments, you would include the information from Form 1099-H on Form 8885 when filing your tax return. The 1099H form was not required to be attached to your federal tax returns. Even though Form 1099 H has been retired, it is still important to file your federal income tax return. This is especially true if you qualify for a refund. For tax years when the form was still relevant, TaxAct made it easy to report health coverage tax credit information.
• To claim the HCTC for 2021, when you filed in 2022, you had to file Form 8885, Health Coverage Tax Credit, and attach documentation that showed you were an eligible individual for the HCTC and that the premiums claimed for your 2021 coverage were paid. You must submit Form 8453 U.S. Individual Income Tax Transmittal if you filed your federal income taxes electronically. Individual Income Tax Transmittal for an IRS e-file Return.To access Form 8453 in the TaxAct program:From within your 2021 TaxAct return (Online
• or Desktop), click Federal

. (On smaller devices, click in the top left corner of your screen, then click

1. Federal).
2. Click the Other Credits
3. dropdown, click the second Other credits

dropdown that appears, then click

Health coverage tax credit –

.

3. Continue with the interview process to enter your information.

The bottom line

Form 1099-H might be a thing of the past, but understanding how it worked is still valuable. TaxAct can help you with any other tax forms, such as 1099 DIV, 1099 INT, or 1099 NEC. We make the process of filing your taxes simple and easy, so you can focus on the things you enjoy.

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