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Section 6221.--Tax Treatment Determined at Partnership Level 26 CFR 301.6221 1: Tax treatment determined at partnership level. T.D. 8965 DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR

How to fill out form 8965

How to fill out form 8965:

1. Begin by gathering all necessary information, including your personal details, income information, and health insurance coverage.
2. Carefully read the instructions provided with the form to ensure you understand the requirements and guidelines for completing it.
3. Start filling out the form by providing your name, Social Security number, and other requested personal information.
4. Proceed to the next section where you will need to indicate if you, your spouse, or any dependents had coverage throughout the year.
5. If you or any of your dependents had coverage for the entire year, simply check the box indicating so and move on to the next section.
6. If you or your dependents did not have coverage for the entire year, you will need to specify the months in which coverage was lacking and the reason for the absence.
7. Use Part III of the form to claim any exemptions you qualify for, such as being a member of a healthcare sharing ministry or experiencing a short coverage gap.
8. If you received a Form 1095-A, 1095-B, or 1095-C, you may need to provide additional information in the designated sections.
9. Once you have completed all required sections, review your entries for accuracy and make any necessary corrections.
10. Sign and date the form before submitting it to the appropriate tax authority.

Who needs form 8965:

1. Individuals who were required to have health insurance coverage during the year but experienced a gap in coverage or were exempt from the requirement.
2. Those who hold a coverage exemption or were eligible for a premium tax credit based on purchasing coverage through a Marketplace.
3. Individuals who need to reconcile any advance payments of the premium tax credit or claim a shared responsibility payment on their tax return.

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What is form 8965?

Form 8965 is a tax form used by individuals to report and claim exemptions from the Affordable Care Act (ACA) coverage requirements.

Who is required to file form 8965?

Individuals who are applying for or claiming exemptions from the ACA coverage requirements are required to file form 8965.

How to fill out form 8965?

To fill out form 8965, individuals need to provide their personal information, exemptions being claimed, and the dates for which the exemptions apply.

What is the purpose of form 8965?

The purpose of form 8965 is to determine if an individual qualifies for an exemption from the ACA coverage requirements and to report any exemptions being claimed.

What information must be reported on form 8965?

On form 8965, individuals must report their personal information, exemptions being claimed, and the corresponding exemption certificate number or other required documentation.