Amended Tax Return and 1095-A

[mckinly16]

I have to amend my 2022 return which will add about $3,000 to my total income. I also get premium tax credit to help with health insurance which is based off income. With the added income, will I have to get an updated 2023 Premium Tax Credit form (1095-A)?

[rjs]

No, you don't need an updated Form 1095-A. TurboTax will recalculate your Premium Tax Credit on Form 8962 using your revised income amount.

[mckinly16]

@rjs Would I have to wait for my amended return to be accepted for Turbo Tax to update the 1095-A form?

[VolvoGirl]

I don’t understand.  The amended return will automatically adjust the Premium tax credit.  Did you enter the 1095A on the original return?  No you don’t get a new 1095A.  But you probably have to tell them if your income changes for this year 2024 so the next year’s 1095-A will be correct.  

[rjs]

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@mckinly16 wrote:

@rjs Would I have to wait for my amended return to be accepted for Turbo Tax to update the 1095-A form?

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@mckinly16 

TurboTax will not update your 1095-A. Amending your tax return does not change your 1095-A. That's why you don't need an updated 1095-A. The 1095-A is not part of your tax return, and it doesn't change.

The Premium Tax Credit on your tax return is calculated on Form 8962, which is included in your tax return. Form 8962 includes the information that you entered from Form 1095-A, but that information does not change. Form 8962 also has some information about your income. That income information will change when you amend your tax return, and TurboTax will recalculate the Premium Tax Credit on Form 8962 using the new income information. That recalculation is done when you prepare your amended return, as soon as you enter the additional income, before you actually file the amended return. The updated Form 8962 will be included in your amended return.