I'm 64, MFJ. What happened was the company holding my IRA rolled it over to a Roth, then cashed it out. I thought cashing out from Roth made a tax difference, (that's what the cust rep told me who rolled it! ).
Now I have 2 months subsidy to payback, but we are too poor in 2017 to find this money. It's all gone. {Wife on SSDI & can't work. Has untreatable, terminal (soon) disease. I can't work cause can't drive due to frequent black-outs, & Doc's can't find cause. Her SSDI is $1982 but monthly expenses are $4,000 +or-.}
I read the work arounds, but not comfortable with my skill level. I know it's not right but can I just inflate the deductibles on the BC/BS Cobra we had for 10 months, to make up for the ACA $ I must payback? My taxable income after all deductions is 0% (or $0?) so far. Medical deductions are very, very high.
Please help ASAP. Thank you so much.
