Reporting income for Obama Care (Affordable Care Act)

Posted by on Jan 14, 2015 in Important News | 0 comments

 

When you fill out an application for Obama Care, you’ll need to estimate what your household’s income will be in the year you’ll be covered. The following are all the income sources that are included in this estimate:

  • Wages and salaries, as reported on your W-2 form
  • Tips
  • Net income from any self-employment or business
  • Unemployment compensation
  • Social Security payments, including disability payments
  • Alimony
  • Retirement or pension income
  • Investment income
  • Rental income
  • Other taxable income such as prizes, awards, and gambling winnings

Income sources that are not included:

  • Child support
  • Gifts
  • Supplemental Security Income (SSI)
  • Veterans’ disability payments
  • Workers’ compensation
  • Proceeds from loans (like student loans, home equity loans, or bank loans)

More information can be found at:

https://www.healthcare.gov/income-and-household-information/income/

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