Our adult daughter lives with us but she doesn’t have a job and she or we can’t afford for her to have obamacare! My husband and I support her (food,place to live) Our state didn’t expand medicaid at all. What do we need to do on taxes to keep from getting into trouble.
Do we need to do anything for her or does she need to do anything like file an exemption. We are so confused on all of this. Please someone help us on this matter.
This only works if you aren't claiming her as a dependent.
That is the best way, here are other options:
When you claim someone on your taxes you take on their financial situation and they take on yours. So she would qualify for whatever assistance you qualify for if you claim her has a dependent. If you don't then she has to make at least 100% of the Federal Poverty Level.
You could technically employee her at let's say $12,000 a year if your finances allow. This would get her very cheap Marketplace coverage, assuming she didn't take any deductions and filed as "single". If her income went below $11,670 she could actually lose marketplace subsidies.
You can also add her to a family plan and simply pay the extra costs.