Gone4Good
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Sep 9, 2005
- Messages
- 5,381
Anyone know what the definition of "income" is/will be? And will what they use for 2014 be based on 2013 or 2012 tax returns (or something else)?
I tried to look it up way back. I recall thinking that it comes from a fairly high level on your 1040 (above AGI). Don't count on getting special treatment for dividends, IRA contributions, or muni interest.
With respect to "which tax year" I think it will be based on 2014 income with penalty / subsidy payments trued-up at tax time in 2015.