If I receive subsidies and when I end up dying does my estate have to pay them back?


Answer

Tax credit repayment limits are based on annual income, in the case of death this remains true. It depends upon whether a tax return must be filed for the deceased. You can go through this short application process from the IRS to find out if taxes need to be filed.

Find out more from TurboTax.

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Fred Brandt on

if i have $400,000 in my IRA and pass away, is there a separate tax due from Obama Care?

ObamaCareFacts.com on

There isn’t a specific ObamaCare tax that we know of (but we aren’t experts, we just reference the law and updates to the law that we are aware of). General tax rules apply and current rates apply. So does the ACA affect rates, yes, does the ACA have a provision that goes after IRA’s, not specifically to my knowledge. Here is a link on how distributions work and some more facts on IRA’s and estates.

https://obamacarefacts.com/questions/do-distributions-from-iras-count-as-income-for-subsidies/
http://www.bankrate.com/finance/retirement/ways-to-go-wrong-with-inherited-ira-1.aspx