Sorry, you do not qualify for the Premium Tax Credit on Form 8962.
In order to qualify, your income (MAGI) needs to be at least 100% of the Federal Poverty Level (Line 5). Because your income is below that, and you did not receive any Advance credit (column C on the 1095-A), you do not qualify. Sorry.
Sorry, you do not qualify for the Premium Tax Credit on Form 8962.
In order to qualify, your income (MAGI) needs to be at least 100% of the Federal Poverty Level (Line 5). Because your income is below that, and you did not receive any Advance credit (column C on the 1095-A), you do not qualify. Sorry.
Interesting. I would have never thought I needed to make more money to get the credit; I figured as long as I was below a certain threshold I'd be eligible. Thanks.
The original law provided if your income was too low (below 138% of the Federal Poverty Level), you would qualify for Medicaid. However, when Supreme Court overturned that part of the law, about half of the States did not comply with giving Medicaid to very-low income people, so now many people (like you) are 'stuck' with high cost insurance or no insurance at all.
I'm in the same boat, I started (and later lost) a business which lost huge amounts of borrowed money and now I'm stuck paying the bankruptcy bill and don't even get a refund on the money the government forced me to pay to insurance when I had a job earlier in the year. Go figure.