If you owe money for your Marketplace healthcare, it can affect your IRS balance due, but it depends on how you handle the deduction. Here are the key points:
- Premium Tax Credit: If you received advance payments of the Premium Tax Credit (PTC) to help pay for your Marketplace health insurance, you need to reconcile these payments on Form 8962.
- If the advance payments were more than the actual credit, you may owe money.
- TurboTax Handling: TurboTax will guide you through entering these deductions and credits. - See link here to enter your Market Place form 1094-A.
