Benefits and Your Taxes

401(k) Plan Tax Saver’s Credit

If you contribute to your retirement savings plan, you may qualify for a tax credit in addition to any tax adjustments or exclusions you get for your contributions on your tax return.

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Health Care Information Form 1095-C

Before February 15, you will receive a 1095-C that provides information about the health care coverage you had or were offered during the previous year. Much like Form W-2 and Form 1099, which include information about the income you received, these health care forms provide information you may need when you file your individual income tax return.

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Medical & Dental Expenses

Publication 502 explains the itemized deduction for medical and dental expenses that you can claim on Schedule A (Form 1040), including:

•  What expenses, and whose expenses, you can and cannot include in figuring the deduction.

•  How to treat reimbursements and how to figure the deduction.

•  How to report the deduction on your tax return and what to do if you sell medical property or receive damages for a personal injury.

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