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Will I be fined a no insurance penalty if I claim him as a dependent on 2016 taxes? He can receive insurance from his employer but declined it.
Yes, If you claim your son as a dependent you will be held responsible for his portion of the Individual Shared Provision.
"Who is subject to the individual shared responsibility provision?
The provision applies to individuals of all ages, including children. The adult or married couple who can claim a child or another individual as a dependent for federal income tax purposes is responsible for making the payment if the dependent does not have coverage or an exemption"
For more information regarding the Individual shared responsibility provision please click on the link below:
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