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Has anyone had success calling the Healthcare Marketplace directly instead of the IRS? My return got rejected for a similar reason, and it turned out the Marketplace had updated my 1095-A but hadn't sent me the revised version. They emailed me an updated form within 24hrs of calling them.
Pro tip: In TurboTax, go to Tax Documents section, delete ALL versions of your 1095 forms, then re-upload them, but make sure to manually enter all the information when prompted rather than letting TurboTax try to "read" the forms. Sometimes their OCR misreads critical info. And double-check the "coverage months" boxes - I've seen cases where TurboTax marks someone as having coverage for incorrect months, which creates a mismatch with what the Marketplace reported to the IRS. Good luck! These 1095 rejections are frustrating but usually fixable with some patience.
Don't forget to check if you're eligible for the Earned Income Tax Credit! Even as a dependent, if you had earned income, you might qualify. For 2024 taxes (filing in 2025), if you earned less than $17,640 and are at least 25 years old OR have a qualifying child, you could get a pretty decent refund even if you had no tax liability.
Thanks for mentioning this! I'm only 20 though, so I guess I wouldn't qualify until I turn 25? That's kind of a bummer.
You're right about the age limitation, unfortunately. The EITC typically requires you to be at least 25 unless you have a qualifying child. However, you should still look into filing returns for any years where you had federal income tax withheld from your paychecks, as you'd likely get that money refunded regardless of the EITC. And keep the EITC in mind once you hit 25 - it can be quite valuable!
just fyi, you can also get your wage and income transcripts directly from the IRS website by creating an account at irs.gov/transcripts. it's free and shows all reported income documents (W-2s, 1099s, etc) for previous years. might be easier than tracking down old employers
Just tried this and got stuck in ID verification hell. Apparently you need a credit card, mortgage, or auto loan to verify online? Guess I'm stuck calling them after all :/
22 If your income isn't super high, the interest won't make much difference in your taxes. I earned like $300 in interest last year and it only increased my tax bill by about $36 since I'm in the 12% bracket. Just something to keep in mind!
5 How do you calculate what bracket you're in? Is it based on total income including the interest or just your regular job income?
22 Your tax bracket is based on your total taxable income after deductions, which includes your job income, interest income, and any other taxable income you might have. The brackets are tiered, so you pay 10% on the first portion of your income, then 12% on the next portion, and so on. For most people with moderate incomes, interest from a savings account would be taxed at their highest marginal rate (the highest bracket they reach).
11 Just a heads up - even if you don't get a 1099-INT (like if you earned less than $10 in interest), you're still technically required to report ALL interest income. The IRS doesn't mess around with unreported income, even small amounts.
8 Really? That seems excessive for tiny amounts. Do people actually report like $2 in interest?
Don't forget about stimulus checks or tax credits! Even if you don't "need" to file, you might be leaving money on the table if you don't. Anyone know if there are any credits available for people with zero income for 2024?
Great point about credits. For 2024, there aren't stimulus payments like during COVID, but depending on your situation, you might qualify for credits like the Recovery Rebate Credit (if you missed previous stimulus payments) or certain educational credits if you were taking classes. Even with zero income, you might qualify for the Earned Income Tax Credit if you had any income at all in the previous 3 years and meet certain other requirements. This is called the "lookback rule" and it's often overlooked.
Friendly reminder that not filing when you don't have to is completely legal, but if you ever need proof of income (or lack thereof) for things like apartment applications, student loan deferments, or government assistance programs, having a filed tax return that shows your income situation is super helpful. I learned this the hard way when I didn't file during a year I didn't work and then couldn't prove my income status for a housing application.
That's actually really helpful - I am planning to apply for some assistance programs and didn't think about needing proof of my (lack of) income. Definitely another good reason to file. Thanks for sharing your experience!
Katherine Shultz
Just wanted to share that I had this same issue last year but handled it differently. I just waited and filed my taxes normally, making sure to include all the estimated payments I had actually made on my return. When I filed, I ended up having to pay an underpayment penalty, but it was only like $42 on a missed payment of around $2,500. The software I used (TurboTax) automatically calculated the penalty on Form 2210. It wasn't worth all the stress I put myself through worrying about it. Just make the payment as "balance due" now if you want to minimize the penalty, or just wait until you file. Either way, it's not going to break the bank.
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Marcus Marsh
ā¢Did you have to fill out the full Form 2210 with all the calculations, or did TurboTax handle that for you? That form looks super complicated and I'm wondering if I need to pay extra for that feature.
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Katherine Shultz
ā¢TurboTax handled all the calculations automatically for me. I didn't have to manually fill out anything on Form 2210. The software asked about my estimated payments throughout the year, and when it detected that I had missed one, it just did the math in the background. You shouldn't need to pay extra for this feature - it's part of their standard tax return preparation. The form is definitely complicated if you try to do it manually, but that's the beauty of tax software. Just make sure you accurately enter the dates and amounts of the estimated payments you did make.
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Hailey O'Leary
Quick question related to this - if I make a payment as "balance due" now for the estimated payment I missed, do I still have to fill out Form 2210 when I file my taxes? Or will the IRS just figure out the penalty on their own?
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Seraphina Delan
ā¢You'll still need to complete Form 2210 when you file. Making a payment now as "balance due" helps reduce further interest from accruing, but it doesn't eliminate the need to calculate the penalty for the period the payment was late. Most tax software will handle this calculation automatically if you enter all your payment information correctly. If you're filing by paper, you'll need to complete the form yourself. The IRS can also calculate the penalty for you if you don't include the form, but they may not apply all exceptions or calculate it as favorably as you might.
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Niko Ramsey
ā¢I'm in the same boat as you and just made my payment using "balance due" yesterday. My tax guy told me that we'll handle the Form 2210 when filing, and that the penalty won't be huge since my first three estimated payments were made on time. I'll report back after filing to let you know how it went!
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