!095-A How do I know if I have to pay something back?

matthew_seabrook — Sat, 01 Jun 2019 02:23:14 GMT

If you are responsible to pay back any premium tax credit...

MollsBBU — Sat, 01 Jun 2019 02:23:16 GMT

If you are responsible to pay back any premium tax credit, the program should address it after you input your 1095-A (please see attached screenshot "pay back PTC" below for example).

If you do not need to pay anything back, you'll see either a screen with the remaining Premium Tax Credit you will receive (see attached screenshot "get back more PTC" below) OR you'll see a screen "Good news, your credit for your insurance premiums was the right amount," in which case, you will not owe or receive any additional credit. For more information, please see TurboTax FAQ, What is Form 8962, Premium Tax Credit?

Revisit this section by opening your return, then clicking Federal Taxes (Personal tab if in Home & Business or Self-Employed version) > Health Insurance. Advance through the questions (usually about 5 screens minimum), and you'll arrive at the screen that breaks down your payment, additional credit, or informs you that you have claimed the exact right amount.

Or, to be sure, you may reference your tax form before you file by doing the following:

From within your return, click My Account at the top right
Then, select Tools
Once in the tool center, click on View Tax Summary
Then, at the top in the white bar you will see Back and Preview my 1040 - select Preview my 1040
Then you may scroll down to the line that addresses the Premium Tax Credit.
Depending on which form you file, the line number may be different.
Please see screenshot "what form do I have" below to determine which line applies to you below.

1040: Reference line 46 to see amount you must pay back
Reference line 69 to see any amount you will receive as a credit

1040A: Reference line 29 to see amount you must pay back
Reference line 45 to see any amount you will receive as a credit

1040EZ: The Premium Tax Credit is not addressed on this form. If this is the form you have in your program, you may need to revisit the Health Care section to complete any additional information.

**If each line above is 0 or blank, you don't have to pay anything back, nor will you receive anything additional.

topic !095-A How do I know if I have to pay something back? in Get your taxes done using TurboTax

!095-A How do I know if I have to pay something back?

If you are responsible to pay back any premium tax credit...