I didn't file form 1095-A, how will it affect my refund?

[flowersetc76401]

I filed my taxes early, not knowing I needed to wait for form 1095-A. I have contacted the IRS and am getting it fixed. My question is, will my Premium Tax Credit (about $4000) be deducted from my current refund ($4000ish) making it zero, or will filing the form ADD the Premium Tax Credit to my current refund ($4000, making the total refund $8000), then deduct what I owe...keeping my refund at $4000? IRS couldn't or wouldn't tell me. Make sense?

[DawnC]

This new tax credit works differently than most. The premium tax credit was available immediately when you enrolled in a plan through the Marketplace. It worked like a discount so you could get help paying for coverage throughout the year rather than having to wait until you filed your 2019 taxes. Payments of the premium tax credit went directly to the insurance company to pay a share of the monthly health insurance premiums charged to you. The amount was calculated based on what you estimated your 2019 income would be, along with how many people your plan needed to cover and where you lived.

Now that you're reporting your actual 2019 income, ZIP code, and family size, the IRS will use this info to calculate the discount you should've received throughout the year and made the necessary adjustment. You may get more of a credit and bigger refund (this happens if you made less money than you estimated when you applied) or have to pay some of it back (this happens if you made more money than you estimated when you applied), but there are limits on how much you have to pay back.  Anything you have to pay back will be deducted from your refund.  

[flowersetc76401]

Thank you for your answer. I do feel confident I know how the tax credit works...I am just confused as what will happen when I add it to my tax return. I know I made way less money than I thought I would. I am not concerned about paying the credit back. But, what I am wondering, is if when I add the Premium Tax Credit to my return, will that add it to the refund I am already getting, then deduct what I owe back? Does this make sense? I don't know why I am having such a hard time explaining this:

I filed my taxes like normal...entered income and deductions and my refund (WITHOUT them knowing about the PTC and health insurance) is about $4000. The amount I received from the PTC is about $4000. So, when I update my taxes and ADD the Premium Tax Credit of $4000, will that ADD that amount to the refund I am already getting (totalling $8000) THEN subtract what I owe back (the $4000), making my actual refund still $4000? OR....will it just take back what I owe for the PTC ($4000), making my refund $0? 

[DeanM15]

Whether the Form 8962, Premium Tax Credit, adds to your refund or subtracts from your refund depends on what you told the marketplace about your income when you signed up for the healthcare policy and how much income actually appears on your tax return. 

Form 8962 will calculate if you owe additional money on your policy, or if the government owes you money on the policy. If, as you say, you earned less than you expected in 2019, and you told that figure to the Marketplace, then you should be getting a larger refund. If for some reason you made more than you told the Marketplace, you would get a smaller refund or owe a balance due. This is calculated on Form 8962 and transferred to Schedule 3, Line 9 (for refund) or Schedule 2, Line 2 (for balance due).