Tax & Accounting Blog

New Forms for Affordable Care Act and Data Entry Tips

CS Tax & Asset Management Solutions December 2, 2015

New Affordable Care Act Forms

Forms 1095-B and 1095-C are now required for 2015.

  • Form 1095-B—Reports information to the IRS and taxpayers about individuals who have minimum essential coverage and are therefore not liable for the individual shared responsibility payment.
  • Form 1095-C—Reports information to the IRS and employees about individuals with minimum essential coverage under the employer plan. These employees are not liable for the individual shared responsibility payment for the months that they are covered under the plan.

2015 UltraTax CS Data Entry Tips

To enter data for the months of coverage reported in Form 1095-B (Part IV) or Form 1095-C (Part III), use the Health Care folder > Coverage tab > Detail of individual health care coverage or exemption sub-schedule. In the Other Exemption Type column, choose X to indicate that the individual was covered with the minimum coverage and then enter the applicable information in the Full Year or Start/End Month fields.

Save Even More Time with Data Entry

Data from both of the new forms can be shared through the UltraTax CS Source Data Entry module that releases during the week of December 14. For more information and a video on how to enter and retrieve data using Source Data Entry, see Entering information in UltraTax CS Source Data Entry in our Help & How-To Center.