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Can total income be reduced for the calculation of Premium tax credit? I made 57k in total income and I have to pay back all 7k in tax credits for my health insurance

If I make 9k less then I do not have to pay back the tax credits I received.  Any help would be appreciated.  My earned income is only 12k.  The rest came from capital gains and ss. 

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DDollar
Expert Alumni

Can total income be reduced for the calculation of Premium tax credit? I made 57k in total income and I have to pay back all 7k in tax credits for my health insurance

No, unfortunately you cannot adjust your income to reflect having to pay back the premium tax credit.

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1 Reply
DDollar
Expert Alumni

Can total income be reduced for the calculation of Premium tax credit? I made 57k in total income and I have to pay back all 7k in tax credits for my health insurance

No, unfortunately you cannot adjust your income to reflect having to pay back the premium tax credit.

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