What is the form used for? :
If you are completing the Self‐Employed Health Insurance Deduction Worksheet in your tax return instructions and you were an eligible trade adjustment assistance (TAA) recipient, alternative TAA (ATAA) recipient, reemployment TAA (RTAA) recipient, or Pension Benefit Guaranty Corporation (PBGC) payee, you must complete Form 8885 before completing that worksheet. When figuring the amount to enter on line 1 of the worksheet, do not include the following:
-
Any amounts you included on Form 8885, line 4, or on Form 14095, The Health Coverage Tax Credit (HCTC) Reimbursement Request Form;
-
Any qualified health insurance coverage premiums you paid to “US Treasury-HCTC” for eligible coverage months for which you received the benefit of the advance monthly payment program; or
-
Any advance monthly payments your health plan administrator received from the IRS, as shown on Form 1099-H, Health Coverage Tax Credit (HCTC) Advance Payments.
Is the form Supported in our program? Yes
How to access the form: To access the form, you will need to open a 1040 return on the online/desktop and then go to Add Form/Display and type 8885.
Limits to the form: This form cannot be copied.
Solution Articles:
Health Coverage Tax Credit
8889 - Health Savings Accounts (HSAs)
IRS Publication: https://www.irs.gov/forms-pubs/about-form-8885
