jaxgab
Returning Member

Deductions & credits

When he applied for the Obamacare policy, he gave them a SWAG income estimate for the following year ($ 12K?) since he doesn't have a steady job and still goes to school.  That $ 12K estimate would prevent him from qualifying for Illinois Medicaid.  At the same time, he elected not to receive any any advance premium payments during 2018 and would take instead take the credit when he finally filed his taxes.

 

So his tax refund would increase substantially by simply reporting $ 5,000 in non W-2G gambling winnings?  That is apparently true but makes no sense.  I am sorry, but only the U.S. government could come up with a tax law that silly.