How to prove IRA and/or trust taxable income to Covered California for 2024

My wife and I own a small online store. We used to have physical retail stores but they closed. Unfortunately, we are assuming that we will have zero taxable income in 2024 and any cash generated will be recouping our inventory and other costs which is currently the source of our livelihood.

My mother sadly passed away this year. I am now part of a discretionary family trust for which I am one of a few beneficiaries. I also directed inherited a potion of my mother’s IRA.

I could have some taxable income from the family trust but likely not enough to qualify for ACA insurance. I could have distributions from the IRA that result in taxable income levels for us that qualify us for ACA insurance (i.e., above the FPL).

We still have not elected a marketplace plan. I would like to qualify with Covered California but not sure how I would approach them with income documentation with my facts. I would like to say I would have for example X amount of taxable income because of trust/IRA generated taxable income. However, not sure how to prove that with them.

Any thoughts and/or experiences with this matter would be appreciated. Thanks.

submitted by /u/BruceH777
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