I am 21 and a full-time college student working 9 hours a week. I won’t make over $12k this year and it is highly likely I won’t next year either, so I don’t plan on filing taxes. I filled out the Marketplace application but I am still very confused. Everything I’ve seen says that I don’t qualify for the premium tax credit because my mom (only other household member) is going to claim me as a dependent.
When filling out the application, I included all of her information as well as mine, and when it was submitted it says that I qualify for a decent-sized premium tax credit (plans going from $350 without it down to $50 with it). My mom will make ~$35k in 2020 and she will get insurance through her job.
Can I get insurance through the Marketplace like this and will I end up actually receiving the APTC, even though I am a dependent? Is it reflected on my mom’s tax returns, or will I end up having to pay it back at the end of next year?
Thank you for any help!
submitted by /u/wannabejackalope
[link] [comments]
I am 21 and a full-time college student working 9 hours a week. I won’t make over $12k this year and it is highly likely I won’t next year either, so I don’t plan on filing taxes. I filled out the Marketplace application but I am still very confused. Everything I’ve seen says that I don’t qualify for the premium tax credit because my mom (only other household member) is going to claim me as a dependent. When filling out the application, I included all of her information as well as mine, and when it was submitted it says that I qualify for a decent-sized premium tax credit (plans going from $350 without it down to $50 with it). My mom will make ~$35k in 2020 and she will get insurance through her job. Can I get insurance through the Marketplace like this and will I end up actually receiving the APTC, even though I am a dependent? Is it reflected on my mom’s tax returns, or will I end up having to pay it back at the end of next year? Thank you for any help!
submitted by /u/wannabejackalope [link] [comments]Read Morer/HealthInsurance