You'll need to sign in or create an account to connect with an expert.
Yes, it will affect your Advanced Premium Tax Credit that is used to offset the cost of the premiums in the marketplace.
Even though I will be spending it all on my business? I have until Sept 2023 to spend it. I can't afford to lose my health insurance, so I won't accept a grant if that is going to happen.
What you do with the money is irrelevant. The point is that is in income in the year you receive it. Any increase in income can affect your marketplace insurance.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
aleite87
New Member
Jason612
Level 1
l-madison82-gmai
New Member
jenorise
New Member
tibbons2
Level 2
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.