Cobra Health Insurance premium filing

[TaxStyle]

using Proconnect online

I have a client who retired in Jan. 2020, and her health insurance is continue with the employer through Cobra. right now I am not sure how to file the health insurance premium payment.

The 1095B only showed she is covered in Jan. and a 1095C from Feb - Dec shows 1H on line 14 and 2A on line 16. but no amount is showed.

Per client she is paying $614 monthly out of pocket. Do I just go with what she said and put the amount in the software? is there any form my client suppose to receive to show the amount she paid for the insurance?

[mmmitrano]

Hello,

No, there is no year end statement that your client would have received for insurance premiums paid.  You may rely on the data given to you by the client for health insurance premiums.  It would be an itemized deduction under medical expenses, if her total medical expenses exceeded 7.5% of AGI.

[TaxStyle]

So the health insurance through cobra is not report on 8962?

[qbteachmt]

Your client has an Employer plan.

"Purpose of Form

Use Form 8962 to figure the amount of your premium tax credit (PTC) and reconcile it with advance payment of the premium tax credit (APTC).

You may take the PTC (and APTC may be paid) only for health insurance coverage in a qualified health plan (defined later) purchased through a Health Insurance Marketplace (Marketplace, also known as an Exchange). As a result, you should complete Form 8962 only for health insurance coverage in a qualified health plan purchased through a Marketplace. This includes a qualified health plan purchased on HealthCare.gov or through a State Marketplace."