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March 26, 2025
Question

why is the money from my 401K going against my health insurance discount and what I qualify for?

  • March 26, 2025
  • 1 reply
  • 0 views
This was a withdraw, not a loan and taxes where taken out.

1 reply

March 26, 2025

A 401(k) distribution is taxable as retirement income and will count as income for determining the health insurance Advance Premium Tax credit. This extra income will cause a decrease of your Premium tax credit.

 

Please read this Healthcare.gov document for more information.

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