Contact UsI'm doing my 2016 taxes, and I didn't have health insurance for all of 2016. There is an option on my tax return to state that I couldn't afford it if the lowest costing available health plan exceeded 8.13 percent of my annual income. Based on this, I probably technically (continued in details)
I'm doing my 2016 taxes, and I didn't have health insurance for all of 2016. There is an option on my tax return to state that I couldn't afford it if the lowest costing available health plan exceeded 8.13 percent of my annual income. Based on this, I probably technically could have afforded health insurance, but I don't really know for sure since i never checked out any health plans to begin with. Are there any serious consequences for simply putting down that I couldn't afford health insurance even if, by the government's standards, I could have?
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Tax Professional Answers
John Stancil
You should \complete Form 8965 to determine if you have any exemptions, including not being affordable. If you claim an exemption that yo do not qualify for, you could be subject to penalties for filing an incorrect return. Plus you may be subject to the fine for failing to have qualifying health insurance.
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377 weeks ago