SoReady
Recycles dryer sheets
Hi,
2017 is my first year on ACA. So last December when ACA wanted to know how much I expected to make this year I said $60k, knowing I would use Roth conversions to adjust to that number. Also, knowing that if I went any higher subsidies disappear, although I'm not sure at exactly what amount that happens.
I'm now in the midst of estimating divs, int, cap gains, etc for the year to determine the Roth conversion amount. But I guess I'm wondering what happens if I undershoot or overshoot by a couple of grand? If I go over a bit, do they claw back part of the premium? If I undershoot do they pay me a check for a bit more that would have been the subsidy for the year?
Bottomline, is I'm wondering what the ramifications are to hitting the mark exactly or not.
Thanks,
Bob D
2017 is my first year on ACA. So last December when ACA wanted to know how much I expected to make this year I said $60k, knowing I would use Roth conversions to adjust to that number. Also, knowing that if I went any higher subsidies disappear, although I'm not sure at exactly what amount that happens.
I'm now in the midst of estimating divs, int, cap gains, etc for the year to determine the Roth conversion amount. But I guess I'm wondering what happens if I undershoot or overshoot by a couple of grand? If I go over a bit, do they claw back part of the premium? If I undershoot do they pay me a check for a bit more that would have been the subsidy for the year?
Bottomline, is I'm wondering what the ramifications are to hitting the mark exactly or not.
Thanks,
Bob D