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What do I need to know about the Health Care Law for my 2013 Tax Return?

posted Mar 20, 2014, 8:30 PM by Stacie Clifford Kitts   [ updated Mar 20, 2014, 8:30 PM ]

For most people, the Affordable Care Act has no effect on their 2013 federal income tax return. For example, you will not report health care coverage under the individual shared responsibility provision or claim the premium tax credit until you file your 2014 return in 2015. 

However, for some people, a few provisions may affect your 2013 tax return, such as increases in the itemized medical deduction threshold, the additional Medicare tax and the net investment income tax.