My question is: to qualify for ACA credit, what qualifies as the sources for the minimum income of at least 100% FPL? Is it only W-2 "Earned Income" or does 1099-INT income + W-2 combined qualify for the minimum income of at least 100% FPL?
I understand when considering the maximum income allowed, eg MAGI greater than 400% FPL, W-2, 1099-INT and other sources count towards the maximum (that topic is covered plentifully online), but I can't find an answer to sources of income for MAGI minimum income. One should never assume the sources of income for minimum MAGI are the same as sources of income for maximum MAGI limit, so better ask the experts.
As an example, Susan has a W-2 2023 $12,000 and 1099-INT 2023 $3,000:
On W-2 basis only, it is below the 100% FPL of $13,590
But combined W-2+1099-INT $15,000 is within the 100% FPL and 400%FPL
Will Susan qualify for ACA subsidy based on the example above?
A follow up question, if Susan qualifies based on both sources, is there a minimum W-2 income requirement?
For example, if for 2024 Susan expects 1099-INT or 1099-DIV 2024 of $15,000 and W-2 $0:
1099-INT+1099-DIV $15,000 is within 100% FPL of $14,580 to 400% FPL
Will Susan continue to qualify for ACA subsidy based on example of expected income 2024?
I am confused by online sources that reference "Earned Income" while others state "Income" which I did not think the IRS treat them interchangeably.
Thanks for your help.
