Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Reporting "Life Events" to
Old 03-06-2014, 11:35 AM   #1
Dryer sheet aficionado
Join Date: Oct 2013
Posts: 37
Reporting "Life Events" to

I recall that one of the mandatory life events to be reported is a change in income. My estimated taxable income for 2014 was simply interest income from CDs plus a calculated Roth conversion amount. My thought is that, since I don't actually do the conversion until December (because by then maybe I'll know whether Missouri is going to expand/reform Medicaid or not) there's no requirement that I report anything now.

I'll simply state what I plan to convert in December 2014 when I re-enroll. I could report the (anticipated) lower amount now, and presumably lower my premiums immediately. But if it can all be taken care of at tax time 2015, in the form of a refund, that's fine with me.

Just to be clear, I wanted to purchase insurance on the exchange with a subsidy, and not be eligible for Medicaid, so I did a higher Roth conversion than was "necessary," given the political uncertainty in Jeff City. My opinion is that I can probably now just plan on a Roth conversion to make my income 100% of FPL, not 138%. Politically, I just don't know that for sure -- and who does?

Has anyone out there done a Change of Income reporting, perhaps shedding light on this feature of the ACA? Thanks.

Rpharmer 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 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 03-08-2014, 05:04 PM   #2
Recycles dryer sheets
NoMoreJob's Avatar
Join Date: Feb 2012
Posts: 196
If I understand you correctly I think you'll be okay. Whatever you do and whatever the state does it will all come out in the wash at 2015 tax time. I suppose if you wait until the very last minute your challenge may be convincing the powers that be that your estimate for 2015 is reasonable.
NoMoreJob is offline   Reply With Quote

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 - Has anyone here been able to "enroll" shotgunner Health and Early Retirement 20 10-17-2013 10:02 PM Coach Health and Early Retirement 18 08-01-2010 08:45 PM


All times are GMT -6. The time now is 01:28 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.