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Market place mistake

I accidentally said I had Market place insurance for 12 months but only had  it for 10. Will the IRS fix this or do I need to file an amended return?

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1 Reply
BrittanyS
Employee Tax Expert

Market place mistake

If you enter the amount in for all 12 months on part III but should have only enter the amounts in for 10 months, you will want to amend your return.  The 1095-A is used to calculate the premium tax credit based on your actual income for the year.  If the amounts in part III are inaccurate, the amount of the credit is affect.  This could result in your credit being reduce because you are stating you received more funds than you actually did.  

 

If you want to make changes or add a document to a tax return that has already been filed and accepted by the taxing agency, you should follow these guidelines. 

 

  • You must first wait until the initial return is completely processed.
  • You will have to use the same TurboTax account that you used for the original tax return.
  • Once you begin your amendment, you'll see your original return.
  • The refund calculator will start new at $0 and only reflect the changes in the refund or tax due
  • Only make changes to the areas of your return that need to be corrected.
  • You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment

Select your product below and follow the instructions. 

Amend TurboTax Online 

Amend TurboTax CD/Download 

 

For more information on the 1095-A, see the link below:

 

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