Do I have to file Form 8582?

Exception for Certain Rental Real Estate Activities If you meet all of the following conditions, your rental real estate losses are NOT limited by the passive activity loss rules. If you do not meet all of these conditions, see the Instructions for Form 8582 to find out if you must complete and attach Form 8582 to figure any losses allowed. 1. Rental real estate activities are your only [...]

What can someone who is not able to provide proof of insurance expect (MA)?

Penalty for Failure to Obtain Health Insurance Massachusetts requires most adults 18 and over with access to affordable health insurance to obtain it. In 2021, individuals must be enrolled in health insurance policies that meet minimum creditable coverage standards defined in regulations adopted by the Commonwealth Health Insurance Connector Authority (Health Connector). Individuals who are [...]

Will I be penalized for not having insurance coverage by December 31 even though I have enrolled for it already?

Taxpayers who did not have coverage for all of the tax year, or had a gap in coverage of four or more consecutive months will need to determine if they had access to affordable health insurance (either through an employer, the government or on their own). The instructions to Schedule HC contain the worksheets and tables to determine whether the taxpayer had access to affordable health insurance. [...]

Who will receive Form MA 1099-HC?

You will receive a Form MA 1099-HC if: You have private insurance. You (the plan subscriber) will receive a Form MA 1099-HC from your insurance carrier. It'll also list spouse and dependent information. If you didn't get a form, fill in the Health Care Information section of your Schedule HC with the name of your insurance carrier or administrator and your subscriber number. This information [...]

Can an RDP use Head Of Household filing status on a California tax return?

Registered domestic partners (RDPs) who file single for federal must file married/RDP filing jointly or married/RDP filing separately for California. If you are an RDP and file head of household for federal purposes, you may file head of household for California purposes only if you meet the requirements to be considered unmarried or considered not in a domestic partnership. If you filed a [...]