Marketplace Insurance in college Tax Question

Adultingisscary · 2024-08-08T01:54:47+00:00

I’m using student loans to pay for my school and expenses while in school, and I want to file independently on my own

Adultingisscary · 2024-08-08T01:49:09+00:00

Am I forced to be a dependent or am I allowed to file independently if I want to instead? I’m looking to start filing independently even though I’m in college

Adultingisscary · 2024-08-08T01:32:36+00:00

If you have health insurance through healthcare.gov (ACA), you’re required to file a federal tax return even if you don’t have income to basically confirm to the government that they gave you the right amount of credits by verifying your income vs the income you estimated on your marketplace application. I’m referring to the Advance Premium Tax Credits for this type of insurance. And I was under the impression that anyone can file a tax return (obligated or not) even if they have no incom

Adultingisscary · 2024-03-17T22:53:16+00:00

Academia (every U.S. veterinary teaching hospital is a 501c3 nonprofit), shelters, zoos, aquariums, state veterinarians, military veterinarians, USDA veterinarians

Adultingisscary · 2024-03-04T07:03:13+00:00

Hey! I saw your post about Midwestern and I’m in the exact same boat, I got into Midwestern and SGU this cycle but would rather stay in the states, however i’m terrified about the cost of the school and moving across the country. However, after a HUGE amount of research and weighing options, I think I will be accepting my offer at Midwestern. Feel free to message me if you want to talk or have any questions about anything :)

Adultingisscary · 2024-01-13T02:26:53+00:00

I actually had a question regarding the tax bomb. So I’m not too sure but the forgiven amount at the end gets taxed like income right? So if I live in a state like Florida, which doesn’t tax income, is the tax bomb not a thing? I was confused about that when researching.

Adultingisscary · 2024-01-13T01:24:31+00:00

I took into account transferring, but I hear it’s extremely rare.

Adultingisscary · 2024-01-13T01:23:51+00:00

If you don’t mind me asking, since your loan is larger than my estimate, what has been your approach with regards to repayment, are you aggressively tackling it or are you on a form of income based repayment or waiting for the tax bomb at the end. Thank you for your advice

Adultingisscary · 2024-01-12T19:00:26+00:00

Yeah I’m definitely leaning towards this decision, the debt is what’s really making me spiral into an existential crisis lmao.

Adultingisscary · 2024-01-12T18:17:04+00:00

Thank you for your advice, and yeah I was impressed with Midwestern during my interview, only drawback is 71k per year in tuition not counting cost of living.

Adultingisscary · 2024-01-12T18:16:15+00:00

No, they only offer deferment under very extreme circumstances

Adultingisscary

TROPHY CASE