I received healthcare tax credits for my 25 year old son. At the time he was a full time student but dropped out. He turned 26 in October of this year and also made more than $4000. Since I can no longer claim him as a dependent will I have to pay back a

[srobinet1]

My yearly income is around 28,000 and I have 2 other dependents. I also bought a house in October. I have always done my own taxes with Turbo Tax but all of this has me confused.

[TaxGuyBill · Accepted solution]

Yes, if you claim 100% of the 1095-A, you will probably need to repay at least part of the Advance credit that you received because it seems that your Household will be smaller than what you told the Marketplace.

Just wait until you receive your 1095-A from the Marketplace, enter it in TurboTax (in the Health Insurance section) and on the following screen be sure to check the box indicating the 1095-A covered somebody that is not on your tax return.  It will then ask you to "allocate" the 1095-A.  See the 'Tax Tip' on this post for suggestions:

https://ttlc.intuit.com/questions/2954490-do-i-need-1095-a-if-i-m-covered-under-parents-health-insur...

If you told the Marketplace that he would NOT be your dependent when you applied for insurance, your son will get his own 1095-A and then your situation probably won't have any effect.