Amended Tax Return based on Voided 1095

[oceanuno]

Filed correctly last year regarding a few months of healthcare via government assistance (Covered California in California anyway, but a rose by 49 other names...).  

Tax time was a year ago, and it was all fair and square.  So, as things turned out, the coverage for late 2015 was all retro canceled by Covered California so that it didn't exactly exist anymore, and then I received a revised 1095 A stating that it was VOID.  So, the letter said to amend the return from last year or see if I needed to and linked me to the IRS, a site which I went 'round and 'round, to find little intelligible that might assist me in this matter.  

From what I gathered, I don't have to file an amendment based on this revised 1095, which seems odd, but I can and would reasonably do so if it benefits my bank account.  

I have already downloaded some kind of Turbo Tax Amendment software to amend the return, but I'm wondering if anyone knows if based on what I've mentioned... it would be worthwhile for me or no.  I got my refund from the health care entity after a year's struggle; I would recommend the government get its money back too, and it may have already, but it needs to get the money from that health insurance entity and not from me (as my coverage for those few months at the end of 2015 does not exist now & I can't imagine how I could owe the government for advance tax credits for coverage that now never existed).  

Does that make sense?  It's about whether to make an amendment to last year's return based on the VOID 1095, which I don't really want to do unless it's worth an hour's labor.  I don't know anything about taxes and thank you for information and/or guidance

[IsabellaG · Accepted solution]

Based on what you are saying, you probably wouldn't be getting a refund if you file an amended return.

Check your Form 1040 for 2015. If you have an entry in line 46, that means that you had to pay back some or all of the advance premium tax credit. Since that no longer applies, amending the return would remove that repayment. You may be entitled to a refund.

It's also possible that you would owe money, if you received an additional premium credit over and above what is shown on the 1095-A.  Check line 69 to see if you received this. If the 1095-A is void, so are the premium credits.

Also, if this means that you didn't have health insurance for the whole year, you may have to pay an individual responsibility payment. 

[oceanuno]

It's sensible to me.  I realize you're trying to address some unknowns.

Essentially, if the 1095 is now Void, then the premium credits to assist in purchasing health care are also Void.  This means the government would presumably get their money back from the company it paid or else the consumer it assisted.  I can't imagine paying companies for nothing, so I hope they got their money back from that health insurance company.  

I can't imagine being responsible for it now that the coverage is Void.  If I have recouped what I paid, then what more could I possibly need to do for 2 months of coverage that now doesn't exist?  I was going to "amend" last year's return, which is what led me to post the question.  

Even on the IRS website it says not to worry about it, that I won't owe money, and that I might be entitled to a refund, but then (somehow) I might be liable for some payment also.  It's mixed signals about (not whether I have to do it, but) what might happen if I actually report it on an amended return.  The IRS site says I don't have to--I should leave well enough alone.

Quick question: you tell me to look on lines 46 and 69: is that on the same form?  the 1040?  I'm not a tax guy.  I used Turbo tax, can I just download last year's taxes and find these lines to which you're referring me?  I'd like to do it even to see if I might get a return (or another payment for nothing).  It would be all I needed to know.

Thanks for your speedy response the other day!  Have a good one,

[IsabellaG]

Yes, I'm talking about your Form 1040 for 2016. You should be able to download/print the form you filed directly from your TurboTax account. You're welcome, and good luck!

[leslieserles]

need to amend taxes for 2018. To add form 1095-A.