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Level 1
posted Jan 26, 2022 9:32:36 AM

I am over 60. I made a like kind distribution from my IRA (real estate investment that I transferred to my name). How will this affect my tax liability? Will it affect my ACA insurance premium?

I am over 60. I made a like kind distribution from my IRA (real estate investment that I transferred to my name). How will this affect my tax liability? Will it affect my ACA insurance premium?

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1 Best answer
Expert Alumni
Jan 26, 2022 9:41:44 AM

The value of the distributed real estate will be taxed as an IRA distribution and your tax liability will increase.

 

This distribution will also count as income in determining your advance premium credit and you may have to repay all or part of your advance premium.

 

Please read this Healcare.gov document for more information.

1 Replies
Expert Alumni
Jan 26, 2022 9:41:44 AM

The value of the distributed real estate will be taxed as an IRA distribution and your tax liability will increase.

 

This distribution will also count as income in determining your advance premium credit and you may have to repay all or part of your advance premium.

 

Please read this Healcare.gov document for more information.