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Cary North Carolina online Form 1099-H: What You Should Know

If a CTC recipient makes an advance payment, they report the eligible payment and the advance payment together on Form 1099-H. It is important to notify the recipient of the total payment prior to filing the form to avoid misstatement in your tax return. If you file Form 1099-H, and it does not include a total payment, or if you file and the form includes a total payment, you must include the full amount of the eligible payment on Line 2 of the form. If a CTC recipient reports an advance payment on their income tax return, and you want to see the form number in the box number area in Boxes 1a, 1b and 2 in Step 17 of the instructions, you should report the advance payment by entering the dollar amount in the boxes, not including the date-of-payment field in brackets. If you do not enter the total amount of the advance payment on the 1099-H form, you will not be able to use line 1, Part I and Part II of the instructions. How To File IRS Form 1099-H — CSL Form 1099-H was originally designated as a Statement of Taxes Due, but it is now a return that reports certain types of payments made with a CTC. Form 1099-H is used to report payments made for the purchase of eligible health coverage. How To File IRS Form 1099-H — ETC Form 1099-H (Form W9) is used to report income and other payments for tax years ending before January 1, 2016, and for tax years beginning after January 1, 2016, by CTC recipients who are not eligible individuals, nonresident aliens, or U.S. citizens. In some situations, ETC does not report payments for which the recipient is eligible. For examples of the types of ETC payments to which Form 1099-H applies, see the IRS publication titled “Information For Electronic Claimants”, which is available on our Publication Website at under Publications. What If I Need More Info? Additional information is available at the IRS website under Publications. If any of the above information is unclear, then speak with your tax professional. If you have specific questions not answered by the information above, then please give us a call or drop us an email.

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