If you’re a twenty-something who is a college student, grad school student, or someone about to start your first job, you might be wondering how your age and the Affordable Care Act affects your health care situation and taxes.
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The deadline to purchase health insurance under the Affordable Care Act was March 31, 2014. If you were uninsured and didn’t purchase health insurance or chose to forgo coverage by that date, you may face a tax penalty on your 2014 tax return, the one you file in 2015, unless you qualify for an exemption.
As part of the Affordable Care Act, there are new coverage options available to you and your family for health care if you are uninsured and don’t have insurance options through your employer, Medicaid, or Medicare.
If you were uninsured and purchased health insurance in the Health Insurance Marketplace, you may have received a subsidy or premium tax credit in advance to help you pay your monthly health insurance premiums. But what happens if you had a change in income or family size?
For recent graduates who landed a job with benefits, you’ll have the option to purchase insurance through your employer. But what are the other health insurance options for college students and recent graduates?
Open enrollment to purchase 2014 health care coverage through the Health Insurance Marketplace has ended, but if you missed the March 31st deadline there are still options available to obtain health insurance.
While the deadline was March 31st to enroll via the Health Insurance Marketplace, there are some circumstances which qualify people for a special enrollment period. You may qualify for a special 60-day enrollment period if you experience one of these qualifying life events during the year: