Total Household Income on Form 8962

Why must I declare my son’s income on Form 8962? He is a dependent on my tax return. But he doesn’t contribute to our household expenses. When I include his income on Form 8962, the repayment limitation amount on Line 28 goes up from $1500 to $2500, and the tax I owe to the Feds goes up by almost $1400 on my 1040 tax return. So it is costing me double. I get less premium help on my wife’s health insurance plan because of my son’s income, plus I pay more Fed income tax because of his income. This seems to clearly be the law, but…

Leave a comment

We'll never share your email with anyone else.

1 2 3 4 5

This site uses Akismet to reduce spam. Learn how your comment data is processed.

ObamaCareFacts is a free informational site. It's privately owned, and is not owned, operated, or endorsed by the US federal government or state governments. Our contributors have over a decade of experience writing about health insurance. However, we do not offer professional official legal, tax, or medical advice. See: Legal Information and Cookie Policy. For more on our company, learn About or Contact us.