My niece is a freelancer and was completely out of work for nearly a year. She just scored a great contract, but now her income is going to be much more than she estimated when enrolling in health insurance through the Marketplace last November. She currently is getting nearly $1K per month in subsidies.
What is her tax exposure if her income goes up? A friend of hers got a huge tax penalty one year when their income increased. With this new open enrollment period, should she reapply/update her income? What are the income limits?
We looked online and were unable to get an answer.
submitted by /u/shelbygeorge29
[link] [comments]
My niece is a freelancer and was completely out of work for nearly a year. She just scored a great contract, but now her income is going to be much more than she estimated when enrolling in health insurance through the Marketplace last November. She currently is getting nearly $1K per month in subsidies. What is her tax exposure if her income goes up? A friend of hers got a huge tax penalty one year when their income increased. With this new open enrollment period, should she reapply/update her income? What are the income limits? We looked online and were unable to get an answer.
submitted by /u/shelbygeorge29 [link] [comments]Read Morer/HealthInsurance