I get coverage through the Healthcare Marketplace for me and my 2 adult children, 1 dependent (20 y.o. college student) and 1 non-dependent, recent graduate (May 2024). The recent grad became gainfully employed and was provided with health coverage and was taken OFF my insurance between July and September 2024. I informed my insurance agent AND the Marketplace of this event and asked that she be removed from the policy.
My 1095-A is showing her coverage termination date as 12/31/24.
I DO receive tax credits for the coverage and normally do not have to pay any back, but this year I did.
I'm also being told that both her and my other child's taxes have been negatively effected by this 1095-A reporting.
1. Can you explain why their taxes have been negatively affected?
2. Would it be beneficial to any of us to request a new 1095-A and file an amended return (and why)?
Separately, IF I file an amended return, would it be beneficial to NOT claim my other child, the college student, as a dependent? Why or why not?
Thank you!
