On the site healthcare.gov/turning-26/ it says this (my question follows, this is for context and the yellow highlight):
Qualify for savings on a Marketplace plan
Whether you qualify for savings to lower your Marketplace plan costs (like the premium tax credit or other cost savings) is based on your household's income. Who's considered part of your household depends on how you file your taxes.
In the second highlight with the bold letters, do they mean tax year or calendar year?
Situation: My dependent ages out (26) of my insurance plan in April 2024. He is not employed at this time. He lives with me for now. He has no spouse or dependents so he is a household of 1 but since he will be a dependent up until age 26 this calendar year, he would be a dependent (in calendar year 2024) when I do my taxes in CY 2025 for TY 2024.
Problem: in the bold orange text, it says if I will claim him as a tax dependent for the year after he turns 26. how I interpret that question depends on which type of year they refer to. He turns 26 in 2024, so do they mean the calendar year 2025 but filing for tax year 2024, or the calendar year 2026 filing for the tax year 2025?
You'll need to sign in or create an account to connect with an expert.
They are asking if you will claim him as a dependent on your 2024 return. If he makes less than $4700 and lives with you all year then you can claim him as a dependent.
They are asking if you will claim him as a dependent on your 2024 return. If he makes less than $4700 and lives with you all year then you can claim him as a dependent.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
ba4f97382165
New Member
jbatting
New Member
melissaproffitt
New Member
Joecoollee
New Member
lalaps23
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.