This was discussed a couple of years ago but I can't find it. Sorry.
If you do not want to (or cannot) estimate and "prove" your 2017 income when applying for an ACA exchange policy, can you eschew subsidy now -- pay the full premium each month -- and then get the subsidy you qualified for when you do your 2017 tax return?
At this point, for convoluted reasons, I cannot estimate (and substantiate) my income for 2017. And I am striving now and will be in 2017 to modulate my income to qualify for subsidies as well as be in the 15% tax bracket (for example, just switched mutual funds to equivalent ETFs to avoid cap gain distributions, am shifting dividend-paying assets to retirement accounts, and so on).
So, if I say "no subsidy" when I apply for an exchange policy, and then at tax time find my MAGI is, say, $24,000, will I get the subsidy retroactively as a 2017 tax refund?
Thanks!
If you do not want to (or cannot) estimate and "prove" your 2017 income when applying for an ACA exchange policy, can you eschew subsidy now -- pay the full premium each month -- and then get the subsidy you qualified for when you do your 2017 tax return?
At this point, for convoluted reasons, I cannot estimate (and substantiate) my income for 2017. And I am striving now and will be in 2017 to modulate my income to qualify for subsidies as well as be in the 15% tax bracket (for example, just switched mutual funds to equivalent ETFs to avoid cap gain distributions, am shifting dividend-paying assets to retirement accounts, and so on).
So, if I say "no subsidy" when I apply for an exchange policy, and then at tax time find my MAGI is, say, $24,000, will I get the subsidy retroactively as a 2017 tax refund?
Thanks!