What if I filed my taxes and forgot a 1095-A?
Asked by: Concepcion Auer | Last update: January 31, 2025Score: 4.5/5 (4 votes)
What happens if you file taxes without 1095-A?
You will need Form 1095-A before you file your taxes; otherwise, you may have to submit an amended return later. You can use Form 1095-A to reconcile any advance premium tax credits you received during the year with the amount of credits you were eligible to receive.
Does a 1095-A affect my tax return?
Basic information about Form 1095-A
You will use the information from the Form 1095-A to calculate the amount of your premium tax credit. You will also use this form to reconcile advance payments of the premium tax credit made on your behalf with the premium tax credit you are claiming on your tax return.
What happens if I don't have a 1095-A TurboTax?
If you don't have a Form 1095-A and know you won't be receiving one, you can certify this in TurboTax Online/Mobile in order to refile your return: Go to the Did you receive Form 1095-A for your health insurance plan? screen. You'll be asked if you received a 1095-A. Select No.
How can I avoid paying back my premium tax credit?
The only way to reduce your APTC (Advanced Premium Tax Credit) repayment is to reduce your AGI, and the only way to do that after the tax year is over (ie, now), for most folks is to make a deductible contribution to a traditional IRA or make a contribution to an HSA for tax year 2023.
How to fix your missing 1095-A e-file reject - TurboTax Support Video
What disqualifies you from the premium tax credit?
For tax years other than 2021 and 2022, if your household income on your tax return is more than 400 percent of the federal poverty line for your family size, you are not allowed a premium tax credit and will have to repay all of the advance credit payments made on behalf of you and your tax family members.
What happens if I underestimate my income for Obamacare in 2024?
For the 2024 tax year, if you underestimated your income and received a larger tax credit than you were eligible for, you must repay the difference between the amount of premium tax credit you received and the amount you were eligible for.
What happens if I can't find my 1095-A?
If you still are unable to find your 1095-A Form, or if you need assistance accessing it on-line, you may call Covered CA for assistance at 1-800-300-1506 or contact your insurance agent who assisted you with your enrollment.
How to bypass 1095-A on TurboTax?
- In the left menu, select Tax Tools.
- Select Tools.
- Select Delete a form.
- Scroll to the Form 1095-A or 8962 and click Delete on the right.
- Then scroll to the bottom and select Continue with my return.
What is the IRS penalty for not filing 1095?
IRPs for 2021 1095-C Corrections
2021 IRP Amounts for each corrected 1095-C: $280: Failure to file a correct 1095-C with the IRS. $280: Failure to provide a correct 1095-C to the employee. Total: $560 per corrected 1095-C.
How important is 1095 for taxes?
You will use the information on Forms 1095-B to verify that you had health coverage for each month during the year and will check the full-year coverage box on your tax return.
Can I look up my 1095-A online?
- Log into your Marketplace account.
- Under "Your applications," select your 2024 application — not your 2025 application.
- Select “Tax Forms."
- Download all 1095-As.
How do I add 1095-A to TurboTax after filing?
- Open or continue your return.
- Navigate to the 1095-A section: TurboTax Online/Mobile: Go to 1095-A. TurboTax Desktop: Search for 1095-a, then select the Jump to link.
- Answer Yes and enter your 1095-A info on the next screen. We don't need all the info from your 1095-A.
What happens if you forget to file your 1095-A?
You generally cannot file the tax return without the 1095-A and it gets "rejected". If it does in fact get filed, then the IRS will catch it and recapture what is theirs when they get around to it. Highly advise not filing without the 1095-A just for a refund.
Does a 1095-A affect my tax refund?
Yes. In some cases, the information on the corrected Form 1095-A may be in your favor – it may decrease the amount of taxes you owe or increase your refund. Taxpayers have the option of filing an amended return if they choose.
Does the IRS penalize you for not having health insurance?
The fee for not having health insurance (sometimes called the "Shared Responsibility Payment" or "mandate”) ended in 2018. This means you no longer pay a tax penalty for not having health coverage. If you don't have health coverage, you don't need an exemption to avoid paying a tax penalty.
Can I file my taxes without my 1095-A?
Form 1095-A: Marketplace Insurance Statement
Form 1095-A is sent by state and federal marketplaces to anyone who had marketplace coverage for the year. This form is absolutely required for taxpayers who received advance payments of the Premium Tax Credit (APTC) to help pay for health insurance coverage during the year.
Do I need to enter 1095-A on TurboTax?
Since your dependent received a 1095-A, you do need to enter it on your tax return. The 1095-A is used to complete the Premium Tax Credit Form 8962 and reconcile the Premium Tax Credit.
What happens if you don't file 8962?
If you received an APTC and don't file Form 8962, you could be ineligible for Marketplace APTCs in the future.
Why is the IRS requesting form 8962?
Purpose of Form
Use Form 8962 to figure the amount of your PTC and reconcile it with APTC. You may take the PTC (and APTC may be paid) only for health insurance coverage in a qualified health plan (defined later) purchased through a Health Insurance Marketplace (Marketplace, also known as an Exchange).
What if I received a 1095-B instead of a 1095-A?
A 1095-B is informational. It lets you know about your health coverage. You don't need it in order to file a tax return. A 1095-A shows health coverage that was purchased through the healthcare.gov marketplace.
Will I have to pay back my premium tax credit?
If at the end of the year you've taken more premium tax credit in advance than you're due based on your final income, you'll have to pay back the excess when you file your federal tax return. If you've taken less than you qualify for, you'll get the difference back.
How does health insurance subsidy affect tax returns?
If the tax subsidy is the same as the amount paid to your insurance on your behalf, there is no impact on your taxes. If you increased your income within the tax year, you may have received a larger credit than what you should have.
What happens if you overestimate income on marketplace?
If you overestimate your income and end up claiming less help than you are entitled to, the difference will be refunded to you when you file your income taxes the following year.