I have a 1095-A, I entered the information and it says I owe thousands of dollars how can that be?

[Janetleeayer84]

I received a 1095-A,  and I ended it

[rjs]

I'm just making an educated guess because I can't see your tax return.

During the year you could have received thousands of dollars of Advance Premium Tax Credit that you were not entitled to, so you have to repay it. That could happen if the income amount that you gave to the Marketplace was much lower than your actual income, or if you had an increase in income during the year and you didn't tell the Marketplace. The Advance Premium Tax Credit is based on what you told the Marketplace your income would be.

It's also possible that you made a mistake entering something from the 1095-A, or other information in that section of TurboTax. Go through the 1095-A section again and check your entries.

[Vanessa A]

If you had insurance through the marketplace and you received the Advanced Premium Tax Credit based on your estimated income for the year, when you enter the 1095-A, it reconciles the credit you received in advance with the credit you are actually eligible for.

If you received more credit than you are eligible for during the year, you will need to pay some or all of it back depending on your income and how much extra you received. If your income is above 400% of the poverty level you are not eligible for any amount of premium tax credit and need to pay all of it back.