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Marketplace and federal tax return

My son had marketplace insurance in 2024, but he had no income.  There is about a 3,000 difference from the plan cost to the SLCSP premium paid.  Does he need to file a federal tax form? 

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Accepted Solutions
SharonD007
Employee Tax Expert

Marketplace and federal tax return

It depends. Did your son have advanced payments sent to his insurance company?  The advanced payments will be shown in column C of Part III. If he has advanced payments, he must file a tax return and complete Form 8962 - Premium Tax Credit. Refer to the IRS website The Health Insurance Marketplace for additional information.

 

Also review the TurboTax article Can I File an Income Tax Return If I Don't Have Any Income?

 

Edited 2/2/25|8:39pm PST

@billyjrussell 

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1 Reply
SharonD007
Employee Tax Expert

Marketplace and federal tax return

It depends. Did your son have advanced payments sent to his insurance company?  The advanced payments will be shown in column C of Part III. If he has advanced payments, he must file a tax return and complete Form 8962 - Premium Tax Credit. Refer to the IRS website The Health Insurance Marketplace for additional information.

 

Also review the TurboTax article Can I File an Income Tax Return If I Don't Have Any Income?

 

Edited 2/2/25|8:39pm PST

@billyjrussell 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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