I’m doing my taxes for the 2024 year right now. This is my second time doing my own taxes and my first time since I’ve been self employed. I have some questions. I know for marketplace insurance the 2024 year the minimum income is $15,060 to qualify for insurance thru them. I’m filling out all the info on the freetaxusa website. I’m an online teacher and pet sitter so I can find some deductions. I notice that if I add info to qualify for deductions and then go look at the Business Income (Schedule C) I have a number lower than $15,000. What number matters to the marketplace insurance? The gross amount I made was over $15,060. I’m unsure what number they are looking at. I would rather miss out on deductions and pay $2,300 in taxes than have to pay about $7,000 back for marketplace insurance. Would someone help me understand if I’m thinking about this right? Thanks so much for your help!

    Tax question about self employment and marketplace insurance qualifications
    byu/Significant_Coat_175 intax



    Posted by Significant_Coat_175

    1 Comment

    1. rocketplayer2025 on

      I am not sure of answer. But intentionally not taking deductions would be fraudulent on your tax return filed under penalty of perjury i

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