Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
MAGI for Obamacare premium tax credit question
Old 02-08-2016, 06:52 PM   #1
Confused about dryer sheets
 
Join Date: Apr 2007
Location: Simplicity
Posts: 4
MAGI for Obamacare premium tax credit question

Recently retired and aure using Obamacare to get insurance coverage until we turn 65. Does anyone have advice on filling out IRS Form 8962? Specifically, "tax-exempt interest from Form 1040a, line 8b." I've never seen anything listed on that line in my past tax filings (which is from 403/401k and ira's). We have reported taxable interest on line 8a in the past, reported from 1099 DIV forms receivd from Vanguard. I guess we do have dividend interest, but we have never received it as cash, just had it reinvested. Perhaps this is why we have never gotten notification? Thanks, just a novice here.
__________________

__________________
Most men lead lives of quiet desperation and go to the grave with the song still in them. Thoreau
shiody is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-08-2016, 06:57 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
braumeister's Avatar
 
Join Date: Feb 2010
Location: Northern Kentucky
Posts: 8,587
That refers to (for example) interest from municipal bonds that are free from federal income tax.
__________________

__________________
braumeister is online now   Reply With Quote
Old 02-08-2016, 06:59 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,457
Tax exempt interest is always reported on the 1040 even though it doesn't contribute to the AGI for the tax tables. But as you see it affects other things.
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is online now   Reply With Quote
Old 02-08-2016, 07:28 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,259
Also, do not get confused with any earnings in an IRA or 401(k).... that is not counted in this question...
__________________
Texas Proud is online now   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Introduction into PPACA Premium Tax Credit sengsational Health and Early Retirement 6 12-11-2015 04:32 PM
If in 15% tax bracket, do capital gains count for ACA MAGI? ctmm Health and Early Retirement 3 06-01-2014 05:11 PM
Obamacare MAGI > 400% FPL and Silver Plan premium retire2020 Health and Early Retirement 21 03-01-2014 06:37 PM
ACA tax credit -negative tax liability in 2014 question shotgunner FIRE and Money 9 12-14-2013 05:55 PM
Obamacare Federally Mandated Additional Fees on your Premium Sue J Health and Early Retirement 27 12-02-2013 05:50 PM

 

 
All times are GMT -6. The time now is 10:39 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.