Here are some of the most common documents for proof of income. Remember that in order to get the subsidy (tax break) for your health plan these documents must:
- Include your full name and paint a clear picture of your yearly income estimate
- Match the income you stated on your application. So if you stated an income estimate of $2000 a month, make sure your document confirms you can earn very close to $2000 a month (A document within 10% above or below the income you stated will be accepted).
- Pay stub (not screenshots from an app) - must include:
- Your full name or contain other kinds of verifying information such as a social security number.
- Your income amount and frequency of pay
If paystubs are not usually emailed to you, you can contact the company you work with and request a PDF pay stub or a summary of earnings.
- Copy of most recent federal tax return (Form 1040)
- Wages and tax statements (such as W-2, 1099, 1099-MISC, or other forms displaying your income and tax information)
- Employer statement
- Read more here about what this statement must include.
If you cannot provide a copy of one of the common documents listed above, please see below for a full list of approved documents:
- Copy of your most recent federal tax return along with federal schedule E that accurately reflects current income (can be Federal or state).
- Wages and tax statement (W-2 and/ or 1099, including 1099 MISC, 1099G, 1099R, 1099SSA, 1099DIV, 1099SS, 1099INT).
- Pay stub (again, not a screenshot from an app)
- Social Security Administration Statements (Social Security Benefits Letter)
- Unemployment Benefits Letter
Self-employment: Remember these documents must contain your full name, company name, dates of income, and net income from profit/loss.
- 1040 SE with Schedule C, F, or SE (for self-employment income)
1065 Schedule K1 with Schedule E
- Self Employment Profit and Loss Statement or Self-employment ledger documentation. Must contain:
- Tax return
- Bookkeeping records, including receipts for ALL allowable expenses
- Signed timesheets and receipt of payroll, if you have employees
- Most recent quarterly or year-to-date profit and loss statement
- Annuity statement
- Statement of pension distribution from any government or private source
- Worker’s compensation letter
- Prizes, settlements, and awards, including court-ordered awards letter
- Proof of gifts and contributions
- Proof of taxable scholarships or grants
- Proof of inheritances in cash or property
- Proof of strike pay and other benefits from unions
- Sales receipts or other proof of money received from the sale, exchange or replacement of things you own
- Interests and dividends income statement
- Loan statement showing loan proceeds
- Royalty income statement or 1099-MISC
- Proof of bonus/incentive payments (like a letter of bank statement showing deposit)
- Proof of severance pay
- Pay stub indicating sick pay
- Letter, deposit, or other proof of deferred compensation payments
- Pay stub indicating substitute/assistant pay
- Pay stub indicating vacation pay
- Proof of residuals
- Letter, deposit, or other proof of travel/business reimbursement pay