What is max income Fam of 6 to qualify for the health care tax credit? If we go over by $7k and now have to pay back $18k, how do we set up deductions?
We took money out of our IRA to pay college tuition for our child. It apparently sent our income $7k over the "limit" to receive the tax credit we received when purchasing our health insurance last year. Now, we owe that back - $18k. So, how do we set up deductions. Do we include the 1095A form and then deduct the full amount of the enrollment premiums as a medical deduction?