1095-A entry increased refund, is this correct?

Forum|Forum|2 years ago
February 19, 2024
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Working on my son's tax return and I just want to make sure I'm not looking at something wrong.

He is single, does not have health insurance available through work, and is not a full-time student. He had no tax changes during the year (didn't move, no marriage/divorce, etc.). He purchased insurance through the marketplace and paid the same premium every month all year.

His 1095-A shows $365.22 premium each month in column A, but Columns B and C are $0.00. Turbotax won't let us enter $0.00 for column B, so we used the tax tool to compute his SLCSP. It came up to $381.86 per month. We entered that in Column B. He did not get the advance tax credit, so we left Column C at $0. When we finished this screen, Turbotax increased his refund amount by $4,383, which is everything he paid in for premiums for the year.

Based on his income, he is 105% of the poverty level.

Is it right that he gets the entire amount of what he paid back? I don't know that I've ever seen that before, and I want to make sure we're not getting a bad refund.

TurboTax Home & Biz Windows

Best answer by Vanessa A

Yes. Since his income is 105% of the federal poverty level and he did not receive an advance premium tax credit, the credit is being refunded to him with his return. If you happen to get any errors, you will just need to remove the 0's as zeros will frequently generate errors in the program. The program usually prefers blanks to 0.

Since his SLCSP was greater than his premiums he paid, he is getting the full amount of the premiums he paid back as the credit.