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reebonda
New Member

Why my tax due went up after I entered my health insurance information

 
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1 Reply
JulieCo
New Member

Why my tax due went up after I entered my health insurance information

It depends as there are a couple possible reasons: 

  • If you didn't have health coverage all year, you could have had a penalty.
  • If you had coverage all year and bought insurance from a Marketplace plan and you utilized the premium tax credit during the year, you may owe some of the premium credit received back and it is being included in your return.  For example, if your family’s situation changes during the year, the premium tax credit you qualify for also changes. If you forget to update your original estimates, then you may need to pay back some or all of your credit on your tax return.

https://ttlc.intuit.com/replies/4234767



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