I am currently enrolled in the marketplace for health insurance. If I withdraw funds from my Roth IRA, will it be considered part of my total annual income and potentially increase my taxable income?
If it's a qualified Roth distribution, it shouldn't increase your modified adjusted gross income, which is what the marketplace uses. However, if you have to repay part of the Advance Premium Tax Credit, that will increase your tax.
If it's a qualified Roth distribution, it shouldn't increase your modified adjusted gross income, which is what the marketplace uses. However, if you have to repay part of the Advance Premium Tax Credit, that will increase your tax.