Tax & Accounting Blog

Streamlined Input Screens for the Affordable Care Act

CS Tax & Asset Management Solutions December 1, 2015

The process for entering health care data for the Affordable Care Act has been streamlined in 2015 UltraTax/1040.

Health Care Folder

The Health Care folder keeps the new ACA-related input screens (described below) in one location, making it easier for you to find and access the information you need.

  • Coverage—Health Care coverage exemption information reported on Form 8965
  • 1095A—Data entry reported on Form 1095-A, Health Insurance Marketplace Statement
  • PTC—Premium Tax Credit calculation information reported for Share Policy Allocations or Alternative Calculation for Year of Marriage
  • Afford—Data entry for calculation of the Affordability Worksheet and Marketplace Coverage Affordability Worksheet. Used to determine the individuals and months that qualify for an unaffordable coverage exemption.
  • 5498SA—Health or medical savings account contribution information
  • 1099SA—Health or medical savings account distributions information
  • 1099QA—A Better Living Experience (ABLE) account information

Entire Family Covered for the Full Year with Minimum Essential Health Care Coverage?

In this new data entry field, you can choose Yes or No to indicate whether everyone claimed on the tax return was covered with the minimum essential health care coverage.

  • The field is available in Screens W2, SSA-1099, 1099R, C, F, K1-3 and Coverage. If left blank, you will receive a critical diagnostic message alerting you to review the data.
  • The Setup > 1040 Individual > Other Return Options > Proforma tab has two new proforma options. Marking them allows you to indicate that the Entire family covered for full year with minimum essential health care coverage field should be completed based on prior year data from Screens ACA Tax and/or TPW-ACA.

An Added Benefit for Accounting CS Payroll Users

Since its inception Accounting CS has data shared information from IRS source documents such as from Forms W-2 and 1099-MISC into corresponding UltraTax CS taxpayers—automatically, using the taxpayer’s Tax ID Number (TIN). With the addition of Forms 1094-C and 1095-C to Accounting CS Payroll, any units of Form 1095-C which apply to an individual taxpayer in UltraTax CS will now also import automatically.

Need More Information?

For more information about a particular data-entry field, press F1 or CTRL+Y from any input screen to access our Help & How-To Center.