Jump to content
ATX Community

Another Premium Tax Credit Question - Taxpayer over 400%


gfizer

Recommended Posts

I have a retired client who decided it would be a good idea to withdraw $70k from his 401k to purchase a new pickup truck.  He received advance premium tax credit payments amounting to almost $10k.  The additional retirement income throws him over the 400% threshold.  Is it really true that he won't need to repay the $10k thanks to the cares act?  Seems too good to be true.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...