HealthSherpa Asking for Gross Income?

[SamIam]

I've never used them before and I think I will for the first time next week. My question is why do they ask for Gross income when it's suppose to MAGI. Since so many people are using them their has to be a reason I just want to make sure everything is correct before I do it.

 

[ameneses54]

I've never used them before and I think I will for the first time next week. My question is why do they ask for Gross income when it's suppose to MAGI. Since so many people are using them their has to be a reason I just want to make sure everything is correct before I do it.

From Health.gov:
"Start with your adjusted gross income (AGI). You’ll find this on your most recent federal income tax return. For most people, AGI is very close to or identical to MAGI."
https://www.healthcare.gov/income-and-household-information/

 

[SamIam]

I understand that but the site doesn't ask for agi it only ask for Gross income.

 

[Yagents]

Most people don't know the difference between gross and net income, and now you want to confuse them more with MAGI?

Scares me when a business owner has no idea either. "Well, I pay myself X amount, so that's how much I make". I now ask for pure profit, and pull out their 1040.

Otherwise, they'll be singing the reconciliation tax blues