Do I need to get a corrected 1095-A?

[KellyD6]

I get coverage through the Healthcare Marketplace for me and my 2 adult children, 1 dependent (20 y.o. college student) and 1 non-dependent, recent graduate (May 2024). The recent grad became gainfully employed and was provided with health coverage and was taken OFF my insurance between July and September 2024. I informed my insurance agent AND the Marketplace of this event and asked that she be removed from the policy. 

My 1095-A is showing her coverage termination date as 12/31/24. 

I DO receive tax credits for the coverage and normally do not have to pay any back, but this year I did. 

I'm also being told that both her and my other child's taxes have been negatively effected by this 1095-A reporting. 

1. Can you explain why their taxes have been negatively affected?

2. Would it be beneficial to any of us to request a new 1095-A and file an amended return (and why)?

Separately, IF I file an amended return, would it be beneficial to NOT claim my other child, the college student, as a dependent? Why or why not?

Thank you!

[Vanessa A]

Your 20 year old dependent should not include the 1095-A on their return since they are a dependent on your return.

Your daughters return, she can claim 0% while you claim 100% of the premium and this would not affect her return.  If she claims more than that, then it goes by her income and a household size of 1 (I am assuming single with no kids)

Yes.  You can try to request a new 1095-A, if yours is wrong.  If the non dependent was removed in the summer, this should be reflected on the 1095-A.  This SHOULD lower the premium tax credit you received in advance, but depending on what they did, it may not. 

No.  It would not change anything not claiming your college student.  This could have the opposite affect as it would lower your household size and increase your spot on the Federal Poverty Level guide that is used to determine your credit amount.