Hey guys, I’m super confused about whether I qualify for Healthcare.gov insurance subsidies for 2021 and was hoping someone could clear up a question for me. I know open enrollment begins tomorrow and I haven’t been able to find an answer yet.
In 2020, I withdrew money from my 401k under the CARES ACT, which allowed me to spread my taxes over 3 years. So, 1/3 of that amount is going to be on my 2021 tax return. Does this amount need to be added on Healthcare.gov where it asks for estimated income? The money was withdrawn in 2020, but I’m paying taxes on 1/3 of it in 2021, which is where my confusion is.
Oh, and I did call the hotline for healthcare.gov, but the person I spoke to, while very nice and professional, was absolutely clueless in regards to my question. So, calling them is not going to lead to an answer.
I appreciate it so much if anyone knows. This should be a simple question, but it is driving me crazy.
submitted by /u/Expensive_Ad_841
[link] [comments]
Hey guys, I’m super confused about whether I qualify for Healthcare.gov insurance subsidies for 2021 and was hoping someone could clear up a question for me. I know open enrollment begins tomorrow and I haven’t been able to find an answer yet. In 2020, I withdrew money from my 401k under the CARES ACT, which allowed me to spread my taxes over 3 years. So, 1/3 of that amount is going to be on my 2021 tax return. Does this amount need to be added on Healthcare.gov where it asks for estimated income? The money was withdrawn in 2020, but I’m paying taxes on 1/3 of it in 2021, which is where my confusion is. Oh, and I did call the hotline for healthcare.gov, but the person I spoke to, while very nice and professional, was absolutely clueless in regards to my question. So, calling them is not going to lead to an answer. I appreciate it so much if anyone knows. This should be a simple question, but it is driving me crazy.
submitted by /u/Expensive_Ad_841 [link] [comments]Read Morer/HealthInsurance