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I am unemployed and received nothing since i lost my job in feb 2022 (I didn't have insurance then either). I didn't have insurance and didn't use any of the premiums or anything. The form 1095-A has only a number in column C for January (everything else is 0 for all columns for all other months including January). The form is only accepted when I put a number in column A and B. I put $1 in both to see what would happen and now it says I owe all the money for that one month despite not using it or having coverage. TurboTax also says I have to upgrade to the deluxe edition to file my non-existent taxes? I thought it was free for unemployed? I don't have any income to report nor do I do I have any insurance. I'm very confused and can't find any information on this issue. I live in California and DO NOT receive unemployment. Any advice or help would be much appreciated. I am trying to contact CoveredCA but for some reason they are not available on the weekends so i have to wait until monday. I've never had this issue before even when I was under covered insurance and when i paid for insurance. I'm not sure what is happening now.
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It sounds as if this Form 1095-A shows that you did have insurance coverage for the month of January, because it has the entry in the C Column for Advanced Premium Tax Credit that was paid to an insurance company. However it is unusual that there is nothing in Column A, although sometimes that is blank. They may need to issue you a voided form for the IRS.
If you did have coverage in January and owe back Premium Tax Credit, then it will require the Deluxe version of TurboTax, as that is more than the basic tax forms covered in the free version.
I would recommend to contact the Marketplace and see if you they show you with coverage or not. They send that information to the IRS to match up with your tax return, so if it is incorrect in the Marketplace, it is not going to match.
If you need extra time and file an extension, it will waive failure-to-file penalties until October 18th. However, if you would have owed tax on April the 18th, the IRS will assess monthly late payment penalties and interest until you pay.
I recommend to extend your return with a TurboTax Extension and also pay your best guess of anything you may owe. If you overpay, it will be refunded. If you underpay, it will only calculate penalties on the part that was not paid.
TurboTax has a tool called TaxCaster to give you an idea of your tax liability and/or refund. You can vary different items and see how that could impact your return. Click for TaxCaster
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