1095-A makes me owe money. Why

mortiz1970 — Sat, 01 Jun 2019 17:52:43 GMT

The Premium Tax Credit (PTC) subsidy you got every month...

HelenaC — Sat, 01 Jun 2019 17:52:44 GMT

The Premium Tax Credit (PTC) subsidy you got every month towards your health insurance premium, is based on what annual income you entered when you filled out your Marketplace health insurance application.

However, at tax time, your PTC is calculated on your reported final yearly income for 2018 not what you estimated.
If your final yearly income is greater than your family's income limit, you may need to pay back some or all of your credit on your tax return.

If your combined income was below the 2018 Federal Poverty Level (FPL) you would not qualify for the Premium Tax Credit.

If your income is too low, according to the Affordable Care Act (ACA), you may have been eligible for Medicaid & CHIP coverage therefore not eligible for the subsidy and you would have to pay back the subsidy, at tax time.

Related information:

Re: The Premium Tax Credit (PTC) subsidy you got every month...

slynneddy — Tue, 18 Feb 2020 18:54:26 GMT

My income at the end of the year is less than the amount on the marketplace eligibility form, but it says I own money, why?

Re: The Premium Tax Credit (PTC) subsidy you got every month...

ColeenD3 — Tue, 18 Feb 2020 19:01:42 GMT

Every tax year is separate. Look at your Form 8962 for an explanation. It is also possible that you owe for another reason.

topic 1095-A makes me owe money. Why in Get your taxes done using TurboTax

1095-A makes me owe money. Why

The Premium Tax Credit (PTC) subsidy you got every month...

Re: The Premium Tax Credit (PTC) subsidy you got every month...

Re: The Premium Tax Credit (PTC) subsidy you got every month...