WebOct 7, 2024 · Whether you can be claimed as a dependent by another person. Whether any of your dependents is required to file a tax return (those filing only for a refund of … WebPremium tax credits are available to people who buy Marketplace coverage and whose income is at least as high as the federal poverty level. For an individual, that means an income of at least ...

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Web–Eligibility re-determined based on monthly income •Premium tax credits –APTC will be adjusted prospectively based on recalculated annual income –The final credit amount will … WebEither way, the the taxpayer must complete Form 8962, Premium Tax Credit (PTC) and attach it to their tax return for the year. In general, individuals and families may be eligible for the premium tax credit if their household income for the year is at least 100 percent but no more than 400 percent of the federal poverty line for their family ... can stitches be left in

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WebJun 14, 2024 · And if your household income is less than 400% of the federal poverty level, the amount you’ll need to repay will be limited. Ex: Jude got insurance through the marketplace and qualified for a $1,800 advance premium tax credit. The marketplace advanced $150 a month to his health insurance company. WebThrough the end of the 2025 coverage year, there is no maximum income limit for the premium tax credit. People whose benchmark premium costs more than 8.5% of household income qualify for a premium tax credit if they meet other eligibility criteria. WebYour premium tax credit may be less than your advance credit payments resulting in additional tax liability to you. To prevent that, notify the Marketplace of the change. Remember: this tool only gives you an estimate. Your premium tax credit is calculated on your tax return using Form 8962. flare sharleen bachelorette recap