Amending Tax return and Premium Tax Credit Form

[mckinly16]

I have to amend my 2022 return which will add about $3,000 to my total income. I also get premium tax credit to help with health insurance which is based off income. With the added income, will I have to get an updated 2023 Premium Tax Credit form?

[tagteam]

What is the TurboTax phone number? (intuit.com)

[KarenL]

@mckinly16  For 2022, the additional income may affect the amount of the Premium Tax credit you qualified for on that tax return. So make sure you revisit that section when you prepare your amended tax return. You will have to amend your state tax return too, if your state has income tax. 

As far as 2022 and future years go - each year's Advance Premium tax credits are reconciled on that year's tax return.  That said, you should always make sure your income is kept up-to-date at Healthcare.gov or the marketplace you get your insurance through. 

How do I amend my federal tax return for a prior year?