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Deductions & credits
Hi, thanks, you actually pointed me in the right direction, I really appreciate it.
But now I have a similar question about my state return (California). Is there also a "minimum" income level to get the state credit also? It's not exactly the same situation, but still odd. I got the premium assistance through the state as an upfront discount during the year ($5262). I actually made way less money than I had estimated, so I should easily have qualified for this discount level. Instead of qualifying for this amount of premium assistance, this is what TurboTax says:
Premium Assistance Subsidy: $0
How much you qualify for: $569
Minus how much you got in advance as a discount: $5262
How much of a difference you may have to pay back through your taxes: $4693
Repayment limitation: $600
Actual amount that you have to pay back: $600
Do you understand what's going on here? Is it a similar issue that I asked about above? CA doesn't tax some income that the Federal does (in this case unemployment income). Anything I can do about this?
Thanks again for your help.
Phil