Working on my son's tax return and I just want to make sure I'm not looking at something wrong.
He is single, does not have health insurance available through work, and is not a full-time student. He had no tax changes during the year (didn't move, no marriage/divorce, etc.). He purchased insurance through the marketplace and paid the same premium every month all year.
His 1095-A shows $365.22 premium each month in column A, but Columns B and C are $0.00. Turbotax won't let us enter $0.00 for column B, so we used the tax tool to compute his SLCSP. It came up to $381.86 per month. We entered that in Column B. He did not get the advance tax credit, so we left Column C at $0. When we finished this screen, Turbotax increased his refund amount by $4,383, which is everything he paid in for premiums for the year.
Based on his income, he is 105% of the poverty level.
Is it right that he gets the entire amount of what he paid back? I don't know that I've ever seen that before, and I want to make sure we're not getting a bad refund.
