osufeth24
New Member

Confused about owing taxes for Health Insurance

Went through my taxes today, and when I put in my 1095-A it said I owed $300.  I am confused by this.  In Mid Feb I went from a part time to full time job where I was given employer healthcare.  I canceled the Marketplace gov't healthcare I had at the end of Feb, and then started employer health insurance March 1.  According to what I've been reading, the taxes is because of the tax breaks that I got for my estimated income.  

 

Well, at the time that was my income, when I got a full time job that did up my income slightly.  I also received unemployment ($5,000) when I was furloughed due to covid, and that is being added.  I'm not sure I understand why I'm being penalized when I wasn't even on that health insurance anymore.