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Level 1

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My son will soon do his tax returns and Tricare dropped him off coverage for November & December 2016. Will he have to pay a penalty for the last two months?

Forum|Forum|7 years ago
June 1, 2019
1 reply
9 views

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Best answer by Zbucklyo

No, he will not, because of the short coverage gap exemption to a tax penalty. If you are uncovered for any day during only two consecutive calendar months in the year, you will not owe a penalty. You son can use exemption code 'B' on his tax return. If he remains uncovered in January of this year, however, he will owe a penalty next year.

EDIT: As originally written, this is confusing. You have to not be covered on any day during the months in question. If you are covered for even one day during a month, that counts as covered for the purposes of the ACA.

Level 8

No, he will not, because of the short coverage gap exemption to a tax penalty. If you are uncovered for any day during only two consecutive calendar months in the year, you will not owe a penalty. You son can use exemption code 'B' on his tax return. If he remains uncovered in January of this year, however, he will owe a penalty next year.

EDIT: As originally written, this is confusing. You have to not be covered on any day during the months in question. If you are covered for even one day during a month, that counts as covered for the purposes of the ACA.