Question

1095-A - Increase or Decrease Tax Due?

Forum|Forum|2 years ago
April 11, 2024
1 reply
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I have two 1095-A forms, one for each kid. When I enter the info for the first kid, the tax due decreases. When I enter the tax due for the second 1095-A form, the tax due increases. The info on each 1095 is the same except for the person covered. Why does one decrease my tax due and the other increases?

B

BillM223

The purpose of the 1095-A is to complete the form 8962, which "reconciles" the Premium Tax Credit (PTC).

The 1095-A contains information on how much PTC the government "fronted" you, that it, how much the government provided as a subsidy for your health insurance premiums.

The first 1095-A may have shown X amount of PTC, which would have been under the amount you would have been due. But the second 1095-A might have given you too much PTC, which means that you would have to pay the excess amount back to the government, hence your refund decreasing...

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